By otakuyassine3@gmail.com 
Mastercard (NYSE:MA – Get Free Report) had its price objective increased by Citigroup from $584.00 to $650.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Citigroup’s price target would suggest a potential upside of 16.38% from the company’s current price.
Several other brokerages have also commented on MA. Raymond James reaffirmed an “outperform” rating and issued a $640.00 price target (up previously from $614.00) on shares of Mastercard in a research note on Friday. Macquarie boosted their price target on Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday. Barclays boosted their price objective on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Mizuho boosted their price objective on Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $595.64.
View Our Latest Report on Mastercard
Mastercard Stock Performance
Shares of MA traded down $7.50 on Friday, reaching $558.51. 2,656,115 shares of the stock traded hands, compared to its average volume of 2,771,084. The firm has a market cap of $512.62 billion, a price-to-earnings ratio of 42.26, a P/E/G ratio of 2.17 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. Mastercard has a 12 month low of $428.86 and a 12 month high of $576.94. The stock’s 50-day moving average price is $527.58 and its 200-day moving average price is $500.25.
Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. Equities analysts forecast that Mastercard will post 14.47 EPS for the current fiscal year.
Mastercard announced that its board has approved a share repurchase plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
Institutional Investors Weigh In On Mastercard
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in shares of Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after purchasing an additional 8,035,099 shares during the period. Bank of Montreal Can raised its position in shares of Mastercard by 51.7% during the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after purchasing an additional 1,965,782 shares during the period. FMR LLC raised its position in shares of Mastercard by 3.4% during the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after purchasing an additional 700,769 shares during the period. Geode Capital Management LLC raised its position in Mastercard by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after buying an additional 453,773 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. raised its position in Mastercard by 52.8% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,185,081 shares of the credit services provider’s stock valued at $573,017,000 after buying an additional 409,334 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.
About Mastercard
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.
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