Mastercard (NYSE:MA) Price Target Raised to $584.00 at Citigroup

Mastercard (NYSE:MA) had its target price raised by Citigroup from $572.00 to $584.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Citigroup’s target price would suggest a potential upside of 15.03% from the stock’s previous close.

Several other equities analysts also recently issued reports on MA. Piper Sandler reissued an “overweight” rating and issued a $575.00 target price (up from $565.00) on shares of Mastercard in a research report on Friday, November 15th. Mizuho upped their price target on Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Oppenheimer dropped their price target on shares of Mastercard from $591.00 to $588.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird raised their price target on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their target price on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $566.63.

Mastercard Stock Up 0.6 %

NYSE:MA traded up $2.80 during trading hours on Tuesday, reaching $507.71. The company’s stock had a trading volume of 1,179,003 shares, compared to its average volume of 2,358,412. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $465.99 billion, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 2.36 and a beta of 1.10. Mastercard has a 12 month low of $425.48 and a 12 month high of $537.70. The stock has a 50 day moving average price of $524.08 and a two-hundred day moving average price of $492.75.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.39 earnings per share. Equities analysts predict that Mastercard will post 14.47 EPS for the current fiscal year.

Mastercard declared that its board has approved a share buyback plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Mastercard

Several institutional investors and hedge funds have recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in Mastercard in the third quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard during the 2nd quarter worth $34,000. First Personal Financial Services acquired a new position in shares of Mastercard during the 3rd quarter worth $39,000. Fairway Wealth LLC acquired a new position in Mastercard during the second quarter worth about $35,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of Mastercard by 74.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

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.