Wells Fargo & Company Upgrades Mastercard Incorporated (MA) to Outperform

Mastercard Incorporated (NYSE:MA) was upgraded by Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a report issued on Wednesday. The firm currently has a $160.00 price objective on the credit services provider’s stock. Wells Fargo & Company’s price target points to a potential upside of 9.04% from the company’s current price.

Several other analysts have also recently commented on MA. Cowen and Company restated an “outperform” rating and set a $137.00 target price (up previously from $129.00) on shares of Mastercard in a report on Sunday, July 30th. Cantor Fitzgerald began coverage on Mastercard in a report on Thursday, September 28th. They set an “overweight” rating and a $165.00 target price on the stock. Buckingham Research began coverage on Mastercard in a report on Monday, October 2nd. They set a “buy” rating and a $163.00 target price on the stock. BidaskClub cut Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $144.91.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The business’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.

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In other news, insider Craig Vosburg sold 14,200 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the sale, the insider now owns 40,646 shares of the company’s stock, valued at $5,766,041.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total value of $712,550.00. Following the sale, the director now directly owns 45,278 shares in the company, valued at approximately $6,452,567.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 869,668 shares of company stock worth $112,301,656. 0.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MA. Janus Henderson Group PLC raised its position in Mastercard by 784.3% in the 2nd quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock valued at $2,048,899,000 after buying an additional 14,962,583 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Mastercard by 289.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,570,551 shares of the credit services provider’s stock valued at $433,643,000 after buying an additional 2,654,308 shares during the last quarter. Vanguard Group Inc. raised its position in Mastercard by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock valued at $7,176,378,000 after buying an additional 1,814,116 shares during the last quarter. Capital Research Global Investors raised its position in Mastercard by 15.8% in the 2nd quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock valued at $1,540,665,000 after buying an additional 1,729,179 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in Mastercard by 22,644.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,685,146 shares of the credit services provider’s stock valued at $189,528,000 after buying an additional 1,677,737 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Mastercard (NYSE:MA)

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