Mastercard (NYSE:MA) Receives “Overweight” Rating from Piper Sandler

Mastercard (NYSE:MA)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Sandler in a note issued to investors on Friday,Benzinga reports. They currently have a $575.00 price objective on the credit services provider’s stock, up from their prior price objective of $565.00. Piper Sandler’s target price suggests a potential upside of 10.49% from the company’s current price.

MA has been the topic of a number of other research reports. Argus raised Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Compass Point began coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective on the stock. Oppenheimer started coverage on Mastercard in a research note on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, KeyCorp raised their price objective on Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and an average price target of $547.80.

Mastercard Stock Performance

MA opened at $520.40 on Friday. Mastercard has a 12-month low of $394.76 and a 12-month high of $534.03. The business has a 50 day moving average of $502.32 and a 200-day moving average of $470.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The stock has a market cap of $477.64 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 2.28 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.39 earnings per share. On average, equities research analysts expect that Mastercard will post 14.45 earnings per share for the current year.

Insider Activity

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at approximately $8,440,885.80. This trade represents a 21.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the transaction, the insider now directly owns 91,649,308 shares in the company, valued at $42,965,195,590.40. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,370 shares of company stock worth $97,749,218 over the last three months. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldstein Advisors LLC increased its stake in Mastercard by 1.3% during the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock valued at $749,000 after purchasing an additional 20 shares in the last quarter. McLean Asset Management Corp increased its position in shares of Mastercard by 1.3% during the third quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after acquiring an additional 21 shares in the last quarter. Oldfather Financial Services LLC increased its position in shares of Mastercard by 2.6% during the third quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider’s stock valued at $408,000 after acquiring an additional 21 shares in the last quarter. Transcendent Capital Group LLC raised its holdings in Mastercard by 4.8% in the 3rd quarter. Transcendent Capital Group LLC now owns 455 shares of the credit services provider’s stock worth $225,000 after acquiring an additional 21 shares during the last quarter. Finally, Guerra Pan Advisors LLC lifted its position in Mastercard by 1.7% in the 3rd quarter. Guerra Pan Advisors LLC now owns 1,225 shares of the credit services provider’s stock valued at $605,000 after acquiring an additional 21 shares in the last quarter. 97.28% 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. 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.