Citigroup Cuts Mastercard (NYSE:MA) Price Target to $675.00

Mastercard (NYSE:MAGet Free Report) had its price objective lowered by equities research analysts at Citigroup from $735.00 to $675.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Citigroup’s price target would indicate a potential upside of 31.84% from the stock’s previous close.

MA has been the subject of a number of other research reports. Loop Capital initiated coverage on Mastercard in a report on Tuesday, March 31st. They set a “buy” rating and a $631.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a report on Thursday, January 22nd. Rothschild & Co Redburn set a $685.00 target price on Mastercard in a report on Wednesday, January 28th. Bank of America initiated coverage on Mastercard in a report on Thursday, March 5th. They set a “buy” rating and a $700.00 target price for the company. Finally, Wells Fargo & Company increased their price objective on shares of Mastercard from $660.00 to $668.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and a consensus price target of $662.00.

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Mastercard Stock Up 0.7%

MA stock traded up $3.41 during trading hours on Tuesday, reaching $511.99. 1,480,175 shares of the stock were exchanged, compared to its average volume of 3,847,216. The firm’s 50-day moving average is $512.53 and its 200-day moving average is $541.18. The company has a market cap of $456.60 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 1.60 and a beta of 0.83. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.03 and a quick ratio of 1.03. Mastercard has a 12 month low of $480.50 and a 12 month high of $601.77.

Mastercard (NYSE:MAGet Free Report) last released its earnings results on Thursday, January 29th. The credit services provider reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.52. The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $8.80 billion. Mastercard had a return on equity of 203.92% and a net margin of 45.65%.The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.82 EPS. On average, equities research analysts expect that Mastercard will post 15.91 earnings per share for the current year.

Institutional Trading of Mastercard

Several institutional investors and hedge funds have recently bought and sold shares of MA. J. Stern & Co. LLP raised its holdings in Mastercard by 53,535.0% during the fourth quarter. J. Stern & Co. LLP now owns 72,597,097 shares of the credit services provider’s stock worth $41,444,231,000 after acquiring an additional 72,461,743 shares in the last quarter. Norges Bank acquired a new stake in Mastercard in the 4th quarter valued at about $6,705,708,000. Cardano Risk Management B.V. lifted its stake in Mastercard by 861.6% in the 4th quarter. Cardano Risk Management B.V. now owns 4,072,210 shares of the credit services provider’s stock valued at $2,324,743,000 after purchasing an additional 3,648,748 shares during the last quarter. State Street Corp lifted its stake in Mastercard by 2.8% in the 3rd quarter. State Street Corp now owns 36,580,374 shares of the credit services provider’s stock valued at $20,807,283,000 after purchasing an additional 997,536 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Mastercard by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 79,431,340 shares of the credit services provider’s stock valued at $45,181,341,000 after purchasing an additional 955,533 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Key Headlines Impacting Mastercard

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Mastercard Company Profile

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Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.

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