Truist Financial Has Lowered Expectations for Mastercard (NYSE:MA) Stock Price

Mastercard (NYSE:MA) had its price objective cut by analysts at Truist Financial from $590.00 to $561.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Truist Financial’s target price suggests a potential upside of 11.83% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Mastercard from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Tigress Financial boosted their price target on Mastercard from $730.00 to $735.00 and gave the company a “strong-buy” rating in a research note on Friday, March 13th. Bank of America initiated coverage on Mastercard in a report on Thursday, March 5th. They set a “buy” rating and a $700.00 price target on the stock. Rothschild & Co Redburn set a $685.00 price objective on shares of Mastercard in a research note on Wednesday, January 28th. Finally, Dbs Bank upgraded shares of Mastercard to a “moderate buy” rating in a research report on Friday, March 27th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $656.00.

Mastercard Price Performance

Shares of NYSE MA opened at $501.65 on Tuesday. The company has a market capitalization of $443.25 billion, a PE ratio of 29.03, a P/E/G ratio of 1.55 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.56. Mastercard has a twelve month low of $480.50 and a twelve month high of $601.77. The firm has a fifty day simple moving average of $505.52 and a 200 day simple moving average of $533.53.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, April 30th. The credit services provider reported $4.60 EPS for the quarter, beating analysts’ consensus estimates of $4.41 by $0.19. Mastercard had a net margin of 45.88% and a return on equity of 212.96%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter in the prior year, the firm posted $3.73 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that Mastercard will post 19.58 EPS for the current year.

Institutional Trading of Mastercard

A number of hedge funds and other institutional investors have recently bought and sold shares of MA. PNC Financial Services Group Inc. grew its holdings in shares of Mastercard by 0.5% during the first quarter. PNC Financial Services Group Inc. now owns 830,341 shares of the credit services provider’s stock valued at $414,888,000 after buying an additional 4,231 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Mastercard during the first quarter worth about $1,368,000. Mathes Company Inc. raised its holdings in shares of Mastercard by 2.9% in the 1st quarter. Mathes Company Inc. now owns 7,594 shares of the credit services provider’s stock worth $3,794,000 after acquiring an additional 215 shares during the last quarter. Burling Wealth Partners LLC lifted its position in Mastercard by 0.8% in the 1st quarter. Burling Wealth Partners LLC now owns 20,576 shares of the credit services provider’s stock valued at $10,281,000 after acquiring an additional 158 shares in the last quarter. Finally, Andra AP fonden lifted its position in Mastercard by 10.7% in the 1st quarter. Andra AP fonden now owns 139,489 shares of the credit services provider’s stock valued at $69,697,000 after acquiring an additional 13,428 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

About Mastercard

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.