Cowen and Company Reiterates Outperform Rating for Mastercard Incorporated (NYSE:MA)

Mastercard Incorporated (NYSE:MA)‘s stock had its “outperform” rating restated by Cowen and Company in a research note issued on Sunday, July 30th. They currently have a $137.00 target price on the credit services provider’s stock, up from their prior target price of $129.00. Cowen and Company’s price target points to a potential upside of 6.57% from the stock’s previous close.

A number of other research analysts have also recently weighed in on MA. Jefferies Group LLC reaffirmed a “buy” rating and set a $147.00 price objective (up from $140.00) on shares of Mastercard in a research report on Tuesday, July 18th. BidaskClub cut Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Oppenheimer Holdings, Inc. lifted their price objective on Mastercard and gave the company an “outperform” rating in a research report on Tuesday, July 18th. BMO Capital Markets lifted their price objective on Mastercard from $126.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, Loop Capital boosted their price target on Mastercard from $132.00 to $144.00 and gave the stock a “positive” rating in a report on Friday, July 28th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $128.20.

Shares of Mastercard (NYSE MA) opened at 128.55 on Friday. The stock has a market capitalization of $136.89 billion, a P/E ratio of 31.90 and a beta of 1.17. The firm’s 50-day moving average is $126.59 and its 200 day moving average is $117.50. Mastercard has a 12-month low of $94.41 and a 12-month high of $132.20.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts forecast that Mastercard will post $4.39 EPS for the current fiscal year.

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In other news, major shareholder Foundation Mastercard sold 29,206 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $130.33, for a total transaction of $3,806,417.98. Following the transaction, the insider now owns 112,473,827 shares of the company’s stock, valued at approximately $14,658,713,872.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Martina Hundmejean sold 91,107 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the transaction, the chief financial officer now directly owns 170,570 shares in the company, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 850,468 shares of company stock worth $109,574,694. Corporate insiders own 0.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Mastercard during the fourth quarter valued at approximately $857,217,000. Vanguard Group Inc. increased its position in shares of Mastercard by 2.9% in the first quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock valued at $7,176,378,000 after buying an additional 1,814,116 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Mastercard during the fourth quarter valued at approximately $180,091,000. Clearbridge Investments LLC increased its position in shares of Mastercard by 22,644.6% in the first quarter. Clearbridge Investments LLC now owns 1,685,146 shares of the credit services provider’s stock valued at $189,528,000 after buying an additional 1,677,737 shares during the period. Finally, Egerton Capital UK LLP increased its position in shares of Mastercard by 60.6% in the second quarter. Egerton Capital UK LLP now owns 3,923,766 shares of the credit services provider’s stock valued at $476,541,000 after buying an additional 1,480,425 shares during the period. 75.76% of the stock is currently owned by institutional investors.

About Mastercard

MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.

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