Mastercard (NYSE:MA) PT Raised to $593.00 at JPMorgan Chase & Co.

Mastercard (NYSE:MA) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $570.00 to $593.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.59% from the company’s previous close.

A number of other research firms have also recently commented on MA. Barclays lifted their price target on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Piper Sandler boosted their price target on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Citigroup raised their price target on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their price target on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Evercore ISI lowered their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $525.68.

Mastercard Price Performance

NYSE MA traded up $1.14 during trading hours on Monday, reaching $517.48. 388,520 shares of the company’s stock were exchanged, compared to its average volume of 2,432,769. The firm has a fifty day moving average of $486.90 and a 200-day moving average of $464.01. The stock has a market cap of $481.06 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard has a one year low of $359.77 and a one year high of $518.82.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. On average, equities research analysts predict that Mastercard will post 14.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO J. Mehra Sachin sold 13,439 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the transaction, the insider now directly owns 92,033,308 shares in the company, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock valued at $159,610,703 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Mastercard

A number of hedge funds have recently made changes to their positions in the business. Palisade Asset Management LLC purchased a new position in shares of Mastercard in the first quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Mastercard in the second quarter worth $34,000. Fairway Wealth LLC purchased a new position in Mastercard during the second quarter worth $35,000. Lowe Wealth Advisors LLC increased its position in Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares during the last quarter. Finally, Valued Wealth Advisors LLC raised its stake in shares of Mastercard by 168.6% in the first quarter. Valued Wealth Advisors LLC now owns 94 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 59 shares during the period. 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.