Mastercard (NYSE:MA) had its price target increased by investment analysts at Piper Jaffray Companies from $208.00 to $212.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “overweight” rating on the credit services provider’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 24.30% from the stock’s previous close.
Several other equities research analysts also recently issued reports on MA. Wells Fargo & Co upgraded Mastercard from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $130.00 to $160.00 in a report on Wednesday, October 11th. Cowen restated a “buy” rating and issued a $137.00 price target on shares of Mastercard in a report on Thursday, October 12th. Mizuho restated a “hold” rating and issued a $140.00 price target on shares of Mastercard in a report on Thursday, October 12th. Stephens initiated coverage on Mastercard in a report on Friday, October 13th. They issued an “overweight” rating and a $166.00 price target for the company. Finally, Robert W. Baird increased their price target on Mastercard from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $176.54.
Mastercard (MA) traded down $2.38 during trading hours on Friday, reaching $170.55. The company’s stock had a trading volume of 6,485,938 shares, compared to its average volume of 3,050,000. Mastercard has a 1 year low of $104.61 and a 1 year high of $177.11. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $180,560.00, a price-to-earnings ratio of 46.73, a price-to-earnings-growth ratio of 1.82 and a beta of 1.26.
Mastercard declared that its Board of Directors has approved a stock repurchase plan on Monday, December 4th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the completion of the transaction, the insider now directly owns 47,901 shares of the company’s stock, valued at $7,271,850.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MA. Massey Quick Simon & CO. LLC acquired a new stake in shares of Mastercard in the third quarter valued at approximately $102,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Mastercard in the third quarter valued at approximately $106,000. Thompson Davis & CO. Inc. lifted its position in shares of Mastercard by 170.1% in the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after buying an additional 546 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at approximately $133,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Mastercard by 63.0% in the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 880 shares of the credit services provider’s stock valued at $133,000 after buying an additional 340 shares during the last quarter. 75.66% of the stock is owned by hedge funds and other institutional investors.
About Mastercard
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.
