Mastercard (NYSE:MA) Given New $591.00 Price Target at Piper Sandler

Mastercard (NYSE:MA) had its price objective increased by investment analysts at Piper Sandler from $575.00 to $591.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the credit services provider’s stock. Piper Sandler’s price objective points to a potential upside of 10.78% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $572.00 price target on shares of Mastercard in a research report on Thursday, November 14th. Barclays boosted their price objective on shares of Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Susquehanna raised their price target on Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a report on Friday, November 1st. TD Cowen boosted their price objective on shares of Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Robert W. Baird increased their price objective on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $567.29.

Mastercard Trading Down 0.1 %

MA stock opened at $533.50 on Friday. The stock has a market capitalization of $489.66 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. Mastercard has a twelve month low of $428.86 and a twelve month high of $537.70. The firm’s fifty day simple moving average is $524.77 and its two-hundred day simple moving average is $497.10. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the prior year, the business posted $3.39 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts anticipate that Mastercard will post 14.47 earnings per share for the current year.

Mastercard announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 17th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Mastercard

A number of hedge funds and other institutional investors have recently modified their holdings of MA. State Street Corp lifted its position in shares of Mastercard by 0.7% during the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock worth $17,425,665,000 after purchasing an additional 257,312 shares in the last quarter. FMR LLC increased its stake in Mastercard by 3.4% in the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after purchasing an additional 700,769 shares during the last quarter. Geode Capital Management LLC raised its stake in Mastercard by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock worth $9,043,972,000 after acquiring an additional 453,773 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Mastercard by 120,665.3% in the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after purchasing an additional 8,035,099 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Mastercard by 4.2% during the third quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider’s stock worth $3,800,836,000 after acquiring an additional 304,293 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Company Profile

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.