Piper Sandler Reaffirms Overweight Rating for Mastercard (NYSE:MA)

Mastercard (NYSE:MA)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $575.00 price target on the credit services provider’s stock, up from their previous price target of $565.00. Piper Sandler’s price objective would suggest a potential upside of 10.18% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. BMO Capital Markets raised their price objective on shares of Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group upped their price objective on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup raised their target price on Mastercard from $566.00 to $572.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $572.00 price target on shares of Mastercard in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $549.16.

Mastercard Trading Up 0.3 %

Shares of NYSE:MA opened at $521.89 on Friday. The firm has a fifty day moving average of $504.09 and a two-hundred day moving average of $471.18. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard has a 12-month low of $395.55 and a 12-month high of $534.03. The firm has a market capitalization of $479.01 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the firm earned $3.39 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that Mastercard will post 14.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the completion of the transaction, the insider now owns 91,649,308 shares in the company, valued at $42,965,195,590.40. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,370 shares of company stock worth $97,749,218. 0.10% of the stock is currently owned by company insiders.

Institutional Trading of Mastercard

Several institutional investors have recently bought and sold shares of the stock. Goldstein Advisors LLC grew its holdings in Mastercard by 1.3% during the third quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock worth $749,000 after purchasing an additional 20 shares during the period. Community Bank N.A. lifted its position in shares of Mastercard by 0.9% in the third quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider’s stock valued at $1,081,000 after buying an additional 20 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its position in shares of Mastercard by 1.5% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,398 shares of the credit services provider’s stock valued at $690,000 after buying an additional 20 shares during the last quarter. McLean Asset Management Corp increased its holdings in shares of Mastercard by 1.3% during the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock worth $834,000 after acquiring an additional 21 shares during the last quarter. Finally, Oldfather Financial Services LLC increased its holdings in shares of Mastercard by 2.6% during the 3rd quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider’s stock worth $408,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.