TD Cowen Increases Mastercard (NYSE:MA) Price Target to $567.00

Mastercard (NYSE:MA) had its price target hoisted by TD Cowen from $533.00 to $567.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. TD Cowen’s target price suggests a potential upside of 8.64% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on MA. Piper Sandler restated an “overweight” rating and issued a $575.00 target price (up from $565.00) on shares of Mastercard in a report on Friday. Argus upgraded shares of Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. William Blair upgraded Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. UBS Group increased their price objective on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Susquehanna raised their target price on shares of Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $549.16.

Mastercard Price Performance

MA stock opened at $521.89 on Friday. The business’s 50-day moving average is $504.09 and its two-hundred day moving average is $471.18. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. Mastercard has a 1 year low of $395.55 and a 1 year high of $534.03. The firm has a market capitalization of $479.01 billion, a P/E ratio of 39.48, a P/E/G ratio of 2.28 and a beta of 1.10.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.39 earnings per share. Analysts anticipate that Mastercard will post 14.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the transaction, the insider now directly owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction 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 the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The trade was a 23.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,370 shares of company stock worth $97,749,218 in the last quarter. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Mastercard

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Mastercard by 2.5% during the third quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock worth $9,043,972,000 after acquiring an additional 453,773 shares during the period. Valued Retirements Inc. purchased a new stake in shares of Mastercard during the 3rd quarter valued at $259,000. Brophy Wealth Management LLC bought a new stake in shares of Mastercard during the 3rd quarter worth $1,956,000. Conway Capital Management Inc. purchased a new position in shares of Mastercard in the 3rd quarter worth about $9,889,000. Finally, Resources Management Corp CT ADV boosted its holdings in shares of Mastercard by 19.0% in the 3rd quarter. Resources Management Corp CT ADV now owns 4,108 shares of the credit services provider’s stock worth $2,029,000 after buying an additional 657 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

About Mastercard

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.