Citigroup Boosts Mastercard (NYSE:MA) Price Target to $375.00

Mastercard (NYSE:MA) had its price target raised by Citigroup from $317.00 to $375.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Citigroup‘s target price suggests a potential upside of 16.48% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Guggenheim set a $305.00 price objective on shares of Mastercard and gave the company a “buy” rating in a research report on Friday, November 1st. Moffett Nathanson raised their target price on shares of Mastercard from to and gave the stock a “buy” rating in a report on Tuesday, January 7th. SunTrust Banks raised their target price on shares of Mastercard from $325.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley raised their target price on shares of Mastercard from $317.00 to $338.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Tigress Financial reiterated a “buy” rating on shares of Mastercard in a report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Mastercard currently has a consensus rating of “Buy” and a consensus price target of $322.22.

NYSE:MA opened at $321.93 on Wednesday. Mastercard has a twelve month low of $196.60 and a twelve month high of $325.66. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average of $301.65 and a 200-day moving average of $282.66. The firm has a market cap of $326.53 billion, a price-to-earnings ratio of 47.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.03.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.14. Mastercard had a net margin of 42.50% and a return on equity of 146.92%. The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, research analysts forecast that Mastercard will post 7.69 earnings per share for the current year.

Mastercard declared that its Board of Directors has initiated a share buyback program on Tuesday, December 3rd that authorizes the company to buyback $8.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

In other Mastercard news, insider Michael Miebach sold 4,205 shares of Mastercard stock in a transaction on Monday, January 13th. The shares were sold at an average price of $315.00, for a total transaction of $1,324,575.00. Following the sale, the insider now owns 16,983 shares in the company, valued at $5,349,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 7,542 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $270.00, for a total transaction of $2,036,340.00. Following the completion of the sale, the insider now directly owns 111,902,100 shares in the company, valued at approximately $30,213,567,000. The disclosure for this sale can be found here. Insiders have sold 183,554 shares of company stock worth $54,783,362 in the last ninety days. 3.70% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in Mastercard by 81.4% during the third quarter. Alps Advisors Inc. now owns 9,650 shares of the credit services provider’s stock worth $2,620,000 after purchasing an additional 4,331 shares during the period. K.J. Harrison & Partners Inc raised its holdings in shares of Mastercard by 353.4% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 6,143 shares of the credit services provider’s stock worth $1,668,000 after buying an additional 4,788 shares in the last quarter. Newman Dignan & Sheerar Inc. boosted its stake in Mastercard by 7.6% in the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 2,464 shares of the credit services provider’s stock valued at $669,000 after buying an additional 175 shares in the last quarter. Horan Capital Advisors LLC. acquired a new stake in Mastercard in the 3rd quarter valued at $171,000. Finally, Summit Financial Group Inc. bought a new stake in Mastercard in the fourth quarter valued at $216,000. 74.40% of the stock is owned by institutional investors.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Analyst Recommendations for Mastercard (NYSE:MA)

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