Argus Increases Mastercard (NYSE:MA) Price Target to $320.00

Mastercard (NYSE:MA) had its target price lifted by Argus to $320.00 in a report released on Wednesday, The Fly reports. The firm currently has an “average” rating on the credit services provider’s stock. Argus’ price objective would suggest a potential upside of 19.50% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on MA. Wedbush lifted their target price on shares of Mastercard from $261.00 to $287.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Bank of America boosted their price target on shares of Mastercard from $255.00 to $267.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Raymond James boosted their price target on shares of Mastercard from $284.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Oppenheimer boosted their price objective on shares of Mastercard from $242.00 to $259.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Citigroup set a $317.00 price objective on shares of Mastercard and gave the company a “buy” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $287.20.

Mastercard stock traded down $6.38 during trading on Wednesday, reaching $267.78. The company had a trading volume of 153,486 shares, compared to its average volume of 2,571,797. The company has a 50-day moving average of $271.32. Mastercard has a 1-year low of $171.89 and a 1-year high of $283.33. The company has a market capitalization of $284.15 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 2.18 and a beta of 1.07. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.49 and a quick ratio of 1.41.

Mastercard (NYSE:MA) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.07. Mastercard had a net margin of 42.71% and a return on equity of 137.10%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company earned $1.66 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, analysts expect that Mastercard will post 7.6 EPS for the current fiscal year.

In other Mastercard news, Director Lance Darrell Gordon Uggla purchased 1,500 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $275.71 per share, for a total transaction of $413,565.00. Following the completion of the purchase, the director now directly owns 3,691 shares of the company’s stock, valued at $1,017,645.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Ann Cairns sold 51,850 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $259.80, for a total transaction of $13,470,630.00. Following the sale, the insider now owns 134,120 shares in the company, valued at $34,844,376. The disclosure for this sale can be found here. Insiders have sold 137,921 shares of company stock worth $37,322,422 over the last quarter. Insiders own 3.70% of the company’s stock.

Large investors have recently modified their holdings of the business. FMR LLC grew its position in shares of Mastercard by 1.8% during the first quarter. FMR LLC now owns 40,441,076 shares of the credit services provider’s stock worth $9,521,850,000 after buying an additional 720,407 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Mastercard by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 12,431,997 shares of the credit services provider’s stock worth $2,341,383,000 after buying an additional 416,095 shares in the last quarter. Norges Bank acquired a new position in shares of Mastercard during the fourth quarter worth about $1,701,899,000. Baillie Gifford & Co. grew its position in shares of Mastercard by 3.8% during the fourth quarter. Baillie Gifford & Co. now owns 5,891,766 shares of the credit services provider’s stock worth $1,111,481,000 after buying an additional 213,000 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Mastercard by 7.2% during the fourth quarter. Legal & General Group Plc now owns 4,455,054 shares of the credit services provider’s stock worth $840,377,000 after buying an additional 299,751 shares in the last quarter. Institutional investors own 74.41% 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. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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