Mastercard Incorporated (MA) Upgraded to “Buy” at Guggenheim
Guggenheim upgraded shares of Mastercard Incorporated (NYSE:MA) from a neutral rating to a buy rating in a report released on Monday. The brokerage currently has $153.00 price objective on the credit services provider’s stock, up from their previous price objective of $135.00.
MA has been the subject of a number of other research reports. Oppenheimer Holdings, Inc. reiterated a buy rating and set a $145.00 price target on shares of Mastercard in a research report on Friday. KeyCorp reiterated a buy rating and set a $150.00 price target on shares of Mastercard in a research report on Thursday, September 7th. Barclays PLC lifted their price target on Mastercard from $142.00 to $148.00 and gave the company an overweight rating in a research report on Friday. Cowen and Company reiterated a buy rating and set a $137.00 price target on shares of Mastercard in a research report on Friday. Finally, Credit Suisse Group lifted their price target on Mastercard from $128.00 to $145.00 and gave the company an outperform rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $137.38.
Shares of Mastercard (MA) opened at 141.99 on Monday. Mastercard has a 52-week low of $98.38 and a 52-week high of $141.99. The company has a market cap of $151.20 billion, a PE ratio of 35.23 and a beta of 1.18. The company’s 50-day moving average is $131.47 and its 200 day moving average is $121.14.
Mastercard (NYSE:MA) last posted its earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. On average, analysts anticipate that Mastercard will post $4.43 EPS for the current year.
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In other news, CFO Martina Hundmejean sold 91,107 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Foundation Mastercard sold 87,618 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $126.60, for a total value of $11,092,438.80. Following the transaction, the insider now directly owns 112,736,681 shares in the company, valued at $14,272,463,814.60. The disclosure for this sale can be found here. Insiders sold a total of 850,468 shares of company stock worth $109,574,694 over the last ninety days. Insiders own 0.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Glassman Wealth Services increased its stake 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 valued at $199,000 after buying an additional 6 shares during the period. Norway Savings Bank increased its stake 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 valued at $117,000 after buying an additional 10 shares during the period. Proficio Capital Partners LLC increased its stake 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 valued at $118,000 after buying an additional 12 shares during the period. Genesee Valley Trust Co. increased its stake 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 valued at $702,000 after buying an additional 18 shares during the period. Finally, Concert Wealth Management Inc. increased its stake 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 valued at $664,000 after buying an additional 18 shares during the period. 76.10% of the stock is currently owned by hedge funds and other 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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