Mastercard (NYSE:MA) Given New $630.00 Price Target at Truist Financial

Mastercard (NYSE:MA) had its price objective lowered by Truist Financial from $638.00 to $630.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Truist Financial’s price objective indicates a potential upside of 14.42% from the company’s previous close.

A number of other analysts also recently issued reports on MA. Cowen reaffirmed a “buy” rating on shares of Mastercard in a report on Friday. Wall Street Zen upgraded shares of Mastercard from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 target price for the company. TD Cowen reiterated a “buy” rating and issued a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Finally, Citigroup upgraded shares of Mastercard to a “strong-buy” rating in a research note on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $647.59.

Mastercard Stock Up 1.2%

NYSE MA traded up $6.52 during mid-day trading on Tuesday, reaching $550.59. The stock had a trading volume of 601,165 shares, compared to its average volume of 2,770,730. The stock has a market cap of $497.74 billion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. Mastercard has a 1 year low of $465.59 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company has a fifty day moving average price of $575.44 and a 200 day moving average price of $568.63.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.31 by $0.07. The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.89 earnings per share. On average, research analysts expect that Mastercard will post 15.91 earnings per share for the current year.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,330,922.26. The trade was a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Trading of Mastercard

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC bought a new position in Mastercard in the 2nd quarter worth about $11,421,213,000. Laurel Wealth Advisors LLC raised its position in Mastercard by 55,868.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,421,148 shares of the credit services provider’s stock valued at $7,541,880,000 after purchasing an additional 13,397,168 shares in the last quarter. Norges Bank purchased a new stake in shares of Mastercard in the 2nd quarter worth $6,725,317,000. Nuveen LLC bought a new position in shares of Mastercard during the 1st quarter worth $4,238,764,000. Finally, Wellington Management Group LLP raised its holdings in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after acquiring an additional 3,765,378 shares in the last quarter. Hedge funds and other 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.