Mastercard (NYSE:MA) Price Target Cut to $402.00

Mastercard (NYSE:MAGet Rating) had its target price dropped by BMO Capital Markets from $412.00 to $402.00 in a research note issued on Friday, The Fly reports. BMO Capital Markets’ price target would indicate a potential upside of 9.64% from the company’s current price.

A number of other equities research analysts have also recently weighed in on MA. Mizuho reduced their price objective on Mastercard from $465.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Mastercard from $420.00 to $440.00 in a research note on Friday. Barclays reduced their price objective on Mastercard from $430.00 to $420.00 and set an “overweight” rating for the company in a research note on Monday, April 4th. Raymond James reduced their price objective on Mastercard from $453.00 to $447.00 and set an “outperform” rating for the company in a research note on Friday, January 28th. Finally, Piper Sandler cut Mastercard from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $360.00 to $357.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $422.53.

MA stock traded down $12.17 during trading on Friday, hitting $366.66. 25,104 shares of the company’s stock were exchanged, compared to its average volume of 4,553,905. The business has a 50-day moving average price of $350.93 and a two-hundred day moving average price of $353.59. The stock has a market capitalization of $358.40 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 1.87 and a beta of 1.08. Mastercard has a 52-week low of $305.61 and a 52-week high of $399.92. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.78.

Mastercard (NYSE:MAGet Rating) last posted its earnings results on Thursday, April 28th. The credit services provider reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.58. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Mastercard had a return on equity of 122.90% and a net margin of 46.00%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 earnings per share. On average, equities research analysts anticipate that Mastercard will post 10.11 earnings per share for the current fiscal year.

In other news, major shareholder Foundation Mastercard sold 155,060 shares of the company’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $383.74, for a total value of $59,502,724.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Vosburg sold 1,561 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $365.00, for a total value of $569,765.00. The disclosure for this sale can be found here. Insiders have sold 466,741 shares of company stock worth $176,434,165 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. United Asset Strategies Inc. lifted its position in shares of Mastercard by 3.5% in the first quarter. United Asset Strategies Inc. now owns 42,099 shares of the credit services provider’s stock valued at $15,045,000 after acquiring an additional 1,426 shares in the last quarter. Capital Asset Advisory Services LLC lifted its position in Mastercard by 22.4% during the first quarter. Capital Asset Advisory Services LLC now owns 6,726 shares of the credit services provider’s stock worth $2,404,000 after buying an additional 1,232 shares during the period. Institute for Wealth Management LLC. lifted its position in Mastercard by 0.4% during the first quarter. Institute for Wealth Management LLC. now owns 10,584 shares of the credit services provider’s stock worth $3,782,000 after buying an additional 42 shares during the period. PrairieView Partners LLC lifted its position in Mastercard by 58.2% during the first quarter. PrairieView Partners LLC now owns 87 shares of the credit services provider’s stock worth $31,000 after buying an additional 32 shares during the period. Finally, Summit Global Investments lifted its position in Mastercard by 26.7% during the first quarter. Summit Global Investments now owns 16,932 shares of the credit services provider’s stock worth $6,051,000 after buying an additional 3,573 shares during the period. Institutional investors and hedge funds own 73.86% of the company’s stock.

Mastercard Company Profile (Get Rating)

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 other payment-related products and services.

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