Mastercard’s (MA) “Buy” Rating Reiterated at Cowen and Company
Cowen and Company restated their buy rating on shares of Mastercard Incorporated (NYSE:MA) in a report released on Friday. Cowen and Company currently has a $137.00 target price on the credit services provider’s stock.
MA has been the subject of several other reports. Wedbush reiterated a buy rating and set a $140.00 price objective (up from $129.00) on shares of Mastercard in a research note on Wednesday, September 6th. BidaskClub upgraded shares of Mastercard from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Mastercard from a buy rating to a hold rating in a research note on Monday, August 21st. Loop Capital boosted their price objective on shares of Mastercard from $132.00 to $144.00 and gave the stock a positive rating in a research note on Friday, July 28th. They noted that the move was a valuation call. Finally, BMO Capital Markets boosted their price objective on shares of Mastercard from $126.00 to $137.00 and gave the stock an outperform rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Mastercard has a consensus rating of Buy and a consensus price target of $136.78.
Mastercard (NYSE:MA) opened at 137.22 on Friday. The stock has a market cap of $146.13 billion, a PE ratio of 34.05 and a beta of 1.18. The company’s 50 day moving average is $131.41 and its 200-day moving average is $120.91. Mastercard has a 52-week low of $97.49 and a 52-week high of $138.64.
Mastercard (NYSE:MA) last issued its quarterly 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. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business posted $0.96 earnings per share. Mastercard’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Mastercard will post $4.40 earnings per share for the current year.
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In other Mastercard news, major shareholder Foundation Mastercard sold 87,618 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total transaction of $11,213,351.64. Following the sale, the insider now directly owns 112,649,063 shares of the company’s stock, valued at $14,416,827,082.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martina Hundmejean sold 91,107 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the sale, the chief financial officer now directly owns 170,570 shares in the company, valued at $22,138,280.30. The disclosure for this sale can be found here. Insiders have sold a total of 850,468 shares of company stock worth $109,574,694 over the last quarter. 0.30% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the business. Glassman Wealth Services raised its holdings in shares of Mastercard by 0.3% during the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock worth $199,000 after purchasing an additional 6 shares during the period. Norway Savings Bank raised its holdings in shares of Mastercard by 1.1% during the second quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock worth $117,000 after purchasing an additional 10 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Mastercard by 1.3% during the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 12 shares during the period. Genesee Valley Trust Co. raised its holdings in shares of Mastercard by 0.3% during the first quarter. Genesee Valley Trust Co. now owns 6,246 shares of the credit services provider’s stock worth $702,000 after purchasing an additional 18 shares during the period. Finally, Concert Wealth Management Inc. raised its holdings in shares of Mastercard by 0.3% during the first quarter. Concert Wealth Management Inc. now owns 6,467 shares of the credit services provider’s stock worth $664,000 after purchasing an additional 18 shares during the period. 76.10% of the stock is currently owned by institutional investors.
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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