Macquarie Boosts Mastercard (NYSE:MA) Price Target to $645.00

Mastercard (NYSE:MA) had its target price boosted by analysts at Macquarie from $565.00 to $645.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Macquarie’s target price would suggest a potential upside of 15.49% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group boosted their price target on Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group boosted their price target on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research note on Monday, December 9th. BMO Capital Markets boosted their price target on Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Mizuho boosted their price target on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average target price of $595.64.

Mastercard Stock Down 1.3 %

Shares of NYSE MA traded down $7.50 during mid-day trading on Friday, reaching $558.51. 2,656,115 shares of the company’s stock were exchanged, compared to its average volume of 2,771,084. The firm has a market capitalization of $512.62 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 2.17 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. The business has a fifty day simple moving average of $527.58 and a 200 day simple moving average of $500.25. Mastercard has a twelve month low of $428.86 and a twelve month high of $576.94.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. As a group, equities analysts expect that Mastercard will post 14.47 EPS for the current fiscal year.

Mastercard announced that its board has approved a share repurchase plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Mastercard

Several institutional investors and hedge funds have recently made changes to their positions in the business. Highline Wealth Partners LLC acquired a new position in Mastercard during the 3rd quarter worth approximately $25,000. First Personal Financial Services acquired a new position in Mastercard during the 3rd quarter worth approximately $39,000. FSA Wealth Management LLC acquired a new position in Mastercard during the 3rd quarter worth approximately $54,000. Raelipskie Partnership raised its stake in Mastercard by 120.0% during the 3rd quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock worth $54,000 after buying an additional 60 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new position in Mastercard during the 3rd quarter worth approximately $55,000. Institutional investors own 97.28% of the company’s stock.

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.