Mastercard Incorporated (NYSE:MA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $160.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.49% from the stock’s current price.
According to Zacks, “MasterCard’s stock has outperformed the industry year to date. The company is well positioned for growth given its solid market position, ongoing expansion and digital initiatives, and significant opportunities from the secular shift toward electronic payments. Revenue growth has remianed strong and will continue to grow on the back of its strong market position and attractive core business that continues to be driven by new deals, renewed agreements and expansion of service offerings. The acquisition of VocaLink and NuData Security, complement the company’s efforts to participate in new payment flows and enhance its safety and security offerings. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 2.6% upward over the last 60 days.”
Several other research analysts have also issued reports on the stock. Morgan Stanley increased their price target on shares of Mastercard from $124.00 to $131.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 30th. Deutsche Bank AG reissued a “buy” rating and issued a $150.00 price target (up previously from $124.00) on shares of Mastercard in a research report on Monday, July 10th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $145.00 price target on shares of Mastercard in a research report on Friday, September 8th. Citigroup Inc. increased their price target on shares of Mastercard from $123.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of Mastercard in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Mastercard presently has an average rating of “Buy” and a consensus target price of $140.47.
Shares of Mastercard (NYSE:MA) opened at 142.24 on Thursday. Mastercard has a one year low of $99.51 and a one year high of $143.59. The company has a 50-day moving average price of $133.90 and a 200 day moving average price of $122.61. The company has a market capitalization of $151.47 billion, a price-to-earnings ratio of 35.30 and a beta of 1.18.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, analysts forecast that Mastercard will post $4.43 EPS for the current fiscal year.
In other Mastercard news, major shareholder Foundation Mastercard sold 87,623 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $129.34, for a total value of $11,333,158.82. Following the transaction, the insider now directly owns 112,240,179 shares of the company’s stock, valued at $14,517,144,751.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief financial officer now directly owns 170,570 shares in the company, valued at $22,138,280.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 850,468 shares of company stock worth $109,574,694. Insiders own 0.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MA. American Beacon Advisors Inc. bought a new position in shares of Mastercard during the first quarter worth $100,000. Lipe & Dalton bought a new position in shares of Mastercard during the first quarter worth $101,000. Chicago Partners Investment Group LLC boosted its position 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 in the last quarter. Thompson Davis & CO. Inc. boosted its position 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 in the last quarter. Finally, Proficio Capital Partners LLC boosted its position 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 in the last quarter. 76.04% of the stock is currently owned by institutional investors.
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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