Mastercard Incorporated (MA) Earns “Buy” Rating from Piper Jaffray Companies
Mastercard Incorporated (NYSE:MA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a research note issued on Friday. They currently have a $161.00 target price on the credit services provider’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 9.27% from the stock’s previous close.
A number of other research firms have also recently commented on MA. Instinet restated a “buy” rating and set a $163.00 target price (up from $153.00) on shares of Mastercard in a research report on Saturday, September 9th. Deutsche Bank AG restated a “buy” rating and set a $150.00 target price (up from $124.00) on shares of Mastercard in a research report on Monday, July 10th. Susquehanna Bancshares Inc restated a “positive” rating and set a $158.00 target price (up from $149.00) on shares of Mastercard in a research report on Friday, September 8th. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Thursday, September 21st. Finally, Stephens assumed coverage on Mastercard in a research report on Friday. They set an “overweight” rating and a $166.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company. Mastercard presently has a consensus rating of “Buy” and an average price target of $145.28.
Shares of Mastercard (MA) traded up 0.41% during trading on Friday, hitting $147.34. The stock had a trading volume of 2,337,347 shares. Mastercard has a 12-month low of $99.51 and a 12-month high of $148.45. The firm has a 50 day moving average price of $140.23 and a 200 day moving average price of $126.57. The firm has a market cap of $156.90 billion, a P/E ratio of 36.56 and a beta of 1.18.
Mastercard (NYSE:MA) last posted its earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts expect that Mastercard will post $4.44 earnings per share for the current fiscal year.
In other Mastercard news, major shareholder Foundation Mastercard sold 87,618 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total value of $11,213,351.64. Following the transaction, the insider now directly owns 112,649,063 shares of the company’s stock, valued at approximately $14,416,827,082.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Fraccaro sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $147.59, for a total transaction of $856,022.00. The disclosure for this sale can be found here. Insiders sold a total of 875,468 shares of company stock worth $113,157,678 over the last three months. Corporate insiders own 0.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. lifted its stake in Mastercard by 170.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Mastercard during the 1st quarter valued at approximately $100,000. Proficio Capital Partners LLC raised its position in shares of Mastercard by 108.2% during the 1st quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock valued at $108,000 after buying an additional 464 shares during the period. Lipe & Dalton purchased a new stake in shares of Mastercard during the 1st quarter valued at approximately $101,000. Finally, Chicago Partners Investment Group LLC raised its position in shares of Mastercard by 1,365.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock valued at $105,000 after buying an additional 874 shares during the period. 76.05% of the stock is currently owned by institutional investors and hedge funds.
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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