Mastercard Incorporated (MA) Rating Reiterated by Piper Jaffray Companies
Mastercard Incorporated (NYSE:MA)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a report released on Friday. They presently have a $150.00 target price on the credit services provider’s stock, up from their previous target price of $143.00. Piper Jaffray Companies’ price target would indicate a potential upside of 9.31% from the company’s previous close.
Other analysts also recently issued reports about the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $124.00 price objective on shares of Mastercard in a research report on Thursday, May 25th. BidaskClub downgraded shares of Mastercard from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Citigroup Inc. lifted their price objective on shares of Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Zacks Investment Research upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Wednesday, July 5th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $125.00 price objective on shares of Mastercard in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $135.93.
Mastercard (NYSE MA) opened at 137.22 on Friday. The firm has a market capitalization of $146.13 billion, a price-to-earnings ratio of 34.05 and a beta of 1.18. Mastercard has a 52 week low of $97.49 and a 52 week high of $138.64. The stock’s 50 day moving average is $131.41 and its 200-day moving average is $120.91.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.06. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. Mastercard’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. On average, equities research analysts expect that Mastercard will post $4.40 EPS for the current year.
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In related news, CFO Martina Hundmejean sold 91,107 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the sale, the chief financial officer now directly owns 170,570 shares in the company, valued at $22,138,280.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 29,206 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $130.33, for a total transaction of $3,806,417.98. Following the sale, the insider now owns 112,473,827 shares of the company’s stock, valued at $14,658,713,872.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 850,468 shares of company stock worth $109,574,694. 0.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. American Beacon Advisors Inc. acquired a new stake in shares of Mastercard during the first quarter worth approximately $100,000. Lipe & Dalton acquired a new stake in shares of Mastercard during the first quarter worth approximately $101,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Mastercard by 1,365.6% during the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 874 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in shares of Mastercard by 170.1% during the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Mastercard by 108.2% during the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 464 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.
Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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