Morgan Stanley Lowers Mastercard (NYSE:MA) Price Target to $524.00

Mastercard (NYSE:MA) had its price objective cut by investment analysts at Morgan Stanley from $536.00 to $524.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 18.13% from the stock’s current price.

Several other research firms have also recently issued reports on MA. Evercore ISI increased their price target on Mastercard from $530.00 to $545.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Oppenheimer reiterated an “outperform” rating and issued a $510.00 target price on shares of Mastercard in a research report on Thursday, February 1st. William Blair restated an “outperform” rating on shares of Mastercard in a research report on Wednesday, January 31st. Wells Fargo & Company increased their price objective on shares of Mastercard from $490.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Susquehanna reiterated a “positive” rating and set a $535.00 price objective on shares of Mastercard in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target of $493.55.

Mastercard Stock Performance

Mastercard stock traded up $2.48 during midday trading on Thursday, reaching $443.58. 3,711,610 shares of the stock traded hands, compared to its average volume of 2,507,301. Mastercard has a fifty-two week low of $357.85 and a fifty-two week high of $490.00. The company has a current ratio of 1.09, a quick ratio of 1.17 and a debt-to-equity ratio of 1.86. The firm has a market cap of $413.81 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 1.71 and a beta of 1.08. The firm has a fifty day moving average price of $469.57 and a two-hundred day moving average price of $437.74.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the firm posted $2.80 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that Mastercard will post 14.32 earnings per share for the current year.

Insider Activity at Mastercard

In other news, major shareholder Foundation Mastercard sold 200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $487.25, for a total value of $97,450.00. Following the completion of the sale, the insider now owns 97,543,308 shares of the company’s stock, valued at $47,527,976,823. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Foundation Mastercard sold 200 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $487.25, for a total value of $97,450.00. Following the transaction, the insider now owns 97,543,308 shares in the company, valued at approximately $47,527,976,823. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Venkata R. Madabhushi sold 16,037 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $475.94, for a total transaction of $7,632,649.78. Following the sale, the chief marketing officer now owns 12,255 shares of the company’s stock, valued at $5,832,644.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 583,088 shares of company stock worth $266,873,978. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mastercard

A number of hedge funds have recently modified their holdings of MA. Activest Wealth Management grew its position in Mastercard by 87.4% in the fourth quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock worth $229,000 after acquiring an additional 250 shares in the last quarter. Cross Staff Investments Inc increased its position in Mastercard by 16.3% during the fourth quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock worth $1,343,000 after buying an additional 441 shares during the last quarter. Everett Harris & Co. CA raised its holdings in Mastercard by 0.5% during the fourth quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock valued at $21,129,000 after buying an additional 252 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Mastercard by 23.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock worth $5,171,000 after buying an additional 2,337 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in shares of Mastercard by 7.2% during the 4th quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock worth $209,000 after acquiring an additional 33 shares in the last quarter. 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.