TD Cowen Cuts Mastercard (NYSE:MA) Price Target to $664.00

Mastercard (NYSE:MA) had its price objective decreased by research analysts at TD Cowen from $671.00 to $664.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. TD Cowen’s target price points to a potential upside of 22.48% from the company’s current price.

Several other equities analysts also recently issued reports on MA. Weiss Ratings downgraded shares of Mastercard from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Piper Sandler began coverage on Mastercard in a report on Monday, June 29th. They issued an “overweight” rating and a $597.00 price objective on the stock. Wolfe Research reaffirmed an “outperform” rating on shares of Mastercard in a report on Tuesday, March 17th. BMO Capital Markets initiated coverage on shares of Mastercard in a report on Tuesday, April 21st. They issued an “outperform” rating and a $605.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Mastercard from $735.00 to $675.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $654.31.

Mastercard Trading Up 1.7%

Mastercard stock traded up $9.05 during trading hours on Tuesday, hitting $542.15. The company had a trading volume of 832,374 shares, compared to its average volume of 3,853,201. The firm has a market cap of $479.03 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a 50-day moving average price of $497.92 and a two-hundred day moving average price of $518.61. Mastercard has a 1 year low of $464.52 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.98 and a current ratio of 0.98.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, April 30th. The credit services provider reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.41 by $0.19. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.26 billion. Mastercard had a return on equity of 212.96% and a net margin of 45.88%.The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.73 EPS. On average, sell-side analysts anticipate that Mastercard will post 19.61 earnings per share for the current year.

Insider Activity at Mastercard

In related news, insider Raj Seshadri sold 1,977 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $529.73, for a total transaction of $1,047,276.21. Following the transaction, the insider directly owned 16,429 shares in the company, valued at approximately $8,702,934.17. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mastercard

A number of institutional investors have recently bought and sold shares of MA. Vanguard Group Inc. raised its holdings in Mastercard by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 79,897,854 shares of the credit services provider’s stock valued at $45,612,087,000 after buying an additional 466,514 shares during the period. J. Stern & Co. LLP boosted its stake in shares of Mastercard by 53,535.0% in the fourth quarter. J. Stern & Co. LLP now owns 72,597,097 shares of the credit services provider’s stock valued at $41,444,231,000 after purchasing an additional 72,461,743 shares during the period. State Street Corp grew its stake in shares of Mastercard by 2.8% in the third quarter. State Street Corp now owns 36,580,374 shares of the credit services provider’s stock worth $20,807,283,000 after acquiring an additional 997,536 shares in the last quarter. Geode Capital Management LLC increased its holdings in Mastercard by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 20,686,605 shares of the credit services provider’s stock worth $11,773,153,000 after purchasing an additional 349,369 shares during the period. Finally, Capital International Investors raised its holdings in Mastercard by 4.4% in the fourth quarter. Capital International Investors now owns 17,964,658 shares of the credit services provider’s stock valued at $10,256,368,000 after acquiring an additional 759,584 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Company Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.