Mastercard Inc (NYSE:MA) had its target price boosted by research analysts at Instinet from $133.00 to $134.00 in a research report issued to clients and investors on Thursday, May 4th. The firm currently has a “buy” rating on the credit services provider’s stock. Instinet’s price target points to a potential upside of 15.28% from the company’s previous close.
A number of other research analysts have also issued reports on MA. Vetr upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $117.41 target price on the stock in a report on Wednesday, January 4th. Royal Bank of Canada upgraded shares of Mastercard from an “outperform” rating to a “top pick” rating and increased their price objective for the stock from $115.00 to $130.00 in a report on Thursday, January 5th. BMO Capital Markets reiterated an “outperform” rating and set a $123.00 price objective on shares of Mastercard in a report on Sunday, January 8th. Wedbush initiated coverage on shares of Mastercard in a report on Friday, January 20th. They set an “outperform” rating and a $126.00 price objective on the stock. Finally, Barclays PLC reiterated an “overweight” rating and set a $125.00 price objective on shares of Mastercard in a report on Monday, January 30th. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $118.76.
Shares of Mastercard (NYSE:MA) traded up 1.15% during midday trading on Thursday, hitting $117.58. The company had a trading volume of 4,360,560 shares. The stock has a 50 day moving average price of $115.04 and a 200 day moving average price of $109.25. Mastercard has a 1-year low of $86.65 and a 1-year high of $119.71. The firm has a market capitalization of $126.03 billion, a P/E ratio of 30.70 and a beta of 1.26.
Mastercard (NYSE:MA) last released its earnings results on Tuesday, May 2nd. The credit services provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.07. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.65 billion. Mastercard had a net margin of 37.67% and a return on equity of 71.09%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. On average, equities analysts anticipate that Mastercard will post $4.30 EPS for the current fiscal year.
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In other news, CEO Ajay Banga sold 161,742 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $117.27, for a total transaction of $18,967,484.34. Following the completion of the sale, the chief executive officer now owns 333,495 shares of the company’s stock, valued at $39,108,958.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Timothy H. Murphy sold 24,128 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $112.25, for a total transaction of $2,708,368.00. Following the sale, the general counsel now directly owns 53,407 shares of the company’s stock, valued at approximately $5,994,935.75. The disclosure for this sale can be found here. Insiders have sold 275,592 shares of company stock valued at $32,014,163 in the last three months. Corporate insiders own 3.14% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new position in shares of Mastercard during the first quarter valued at about $100,000. Lowe Brockenbrough & Co. Inc. boosted its position in shares of Mastercard by 20.1% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 3,520 shares of the credit services provider’s stock valued at $396,000 after buying an additional 590 shares during the period. Financial Advisors Network Inc. boosted its position in shares of Mastercard by 3.9% in the first quarter. Financial Advisors Network Inc. now owns 2,962 shares of the credit services provider’s stock valued at $348,000 after buying an additional 111 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Mastercard by 176.4% in the first quarter. Point72 Asset Management L.P. now owns 1,181,718 shares of the credit services provider’s stock valued at $132,908,000 after buying an additional 754,118 shares during the period. Finally, FNY Partners Fund LP boosted its position in shares of Mastercard by 1,700.0% in the first quarter. FNY Partners Fund LP now owns 1,800 shares of the credit services provider’s stock valued at $202,000 after buying an additional 1,700 shares during the period. 75.53% of the stock is owned by institutional investors and hedge funds.
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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