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

Mastercard (NYSE:MA)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a note issued to investors on Friday,Benzinga reports. They presently have a $575.00 price target on the credit services provider’s stock, up from their prior price target of $565.00. Piper Sandler’s target price would suggest a potential upside of 10.18% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Oppenheimer assumed coverage on shares of Mastercard in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Morgan Stanley boosted their price target on Mastercard from $544.00 to $564.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets raised their price objective on Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Compass Point initiated coverage on Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price for the company. Four equities research 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 company’s stock. According to MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and a consensus target price of $549.16.

Mastercard Price Performance

Mastercard stock opened at $521.89 on Friday. The company has a market capitalization of $479.01 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 2.28 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard has a 12 month low of $395.55 and a 12 month high of $534.03. The stock’s 50 day moving average is $504.09 and its 200-day moving average is $471.18.

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

Insider Transactions at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The shares were 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 owns 17,118 shares in the company, valued at approximately $8,440,885.80. The trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 90,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the sale, the insider now owns 91,649,308 shares of the company’s stock, 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. Over the last three months, insiders have sold 208,370 shares of company stock worth $97,749,218. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Mastercard

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sarasin & Partners LLP lifted its position in shares of Mastercard by 4.7% in the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after purchasing an additional 37,486 shares during the period. Principal Financial Group Inc. boosted its position in Mastercard by 4.8% during the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after acquiring an additional 138,842 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Mastercard during the 1st quarter worth about $608,000. SteelPeak Wealth LLC raised its position in shares of Mastercard by 48.6% in the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after acquiring an additional 1,612 shares in the last quarter. Finally, OMC Financial Services LTD bought a new stake in shares of Mastercard during the 1st quarter valued at about $17,854,000. 97.28% of the stock is owned by institutional investors and hedge funds.

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.