Citigroup Forecasts Strong Price Appreciation for Mastercard (NYSE:MA) Stock

Mastercard (NYSE:MA) had its price objective hoisted by equities researchers at Citigroup from $584.00 to $650.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. Citigroup’s price target would suggest a potential upside of 16.99% from the company’s current price.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their target price on Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada increased their price objective on shares of Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group boosted their target price on shares of Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group raised their price target on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $635.00 price objective (up previously from $591.00) on shares of Mastercard in a research report on Friday. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average target price of $595.64.

Mastercard Trading Down 1.8 %

Shares of NYSE MA opened at $555.63 on Friday. The firm’s 50 day moving average price is $528.28 and its 200-day moving average price is $501.03. Mastercard has a 52-week low of $428.86 and a 52-week high of $576.94. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $509.97 billion, a PE ratio of 42.03, a P/E/G ratio of 2.17 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. On average, equities research analysts expect that Mastercard will post 14.47 EPS for the current fiscal year.

Mastercard announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 17th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Mastercard

Hedge funds have recently made changes to their positions in the company. Temasek Holdings Private Ltd boosted its position in shares of Mastercard by 2.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock valued at $1,385,383,000 after acquiring an additional 62,891 shares during the last quarter. Nordea Investment Management AB lifted its position in Mastercard by 15.6% during the fourth quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider’s stock valued at $1,325,353,000 after purchasing an additional 337,905 shares during the last quarter. Cardano Risk Management B.V. grew its stake in shares of Mastercard by 2.7% in the 4th quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock worth $194,141,000 after buying an additional 9,611 shares in the last quarter. Sarasin & Partners LLP raised its position in shares of Mastercard by 4.7% during the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock valued at $410,813,000 after buying an additional 37,486 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Mastercard by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock valued at $2,474,151,000 after acquiring an additional 100,550 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Company Profile

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.