JPMorgan Chase & Co. Lowers Mastercard (NYSE:MA) Price Target to $510.00

Mastercard (NYSE:MA) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $520.00 to $510.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.97% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada boosted their price objective on shares of Mastercard from $432.00 to $499.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. BMO Capital Markets boosted their target price on Mastercard from $480.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Mizuho dropped their price target on shares of Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a report on Thursday. Evercore ISI lifted their price target on shares of Mastercard from $530.00 to $545.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, Susquehanna restated a “positive” rating and set a $535.00 price objective on shares of Mastercard in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and an average target price of $493.55.

Mastercard Stock Performance

Mastercard stock opened at $443.61 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.17 and a debt-to-equity ratio of 1.86. The firm has a market cap of $413.84 billion, a P/E ratio of 35.26, a P/E/G ratio of 1.68 and a beta of 1.08. Mastercard has a 1-year low of $357.85 and a 1-year high of $490.00. The firm has a 50-day moving average of $470.17 and a 200-day moving average of $437.44.

Mastercard (NYSE:MA) last announced its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the prior year, the company earned $2.80 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Sell-side analysts expect that Mastercard will post 14.32 EPS for the current year.

Insider Activity at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 16,037 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $475.94, for a total transaction of $7,632,649.78. Following the sale, the chief marketing officer now directly owns 12,255 shares of the company’s stock, valued at $5,832,644.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Venkata R. Madabhushi sold 16,037 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $475.94, for a total transaction of $7,632,649.78. Following the transaction, the chief marketing officer now directly owns 12,255 shares in the company, valued at approximately $5,832,644.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 116,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $445.04, for a total transaction of $51,624,640.00. Following the completion of the sale, the insider now directly owns 96,651,308 shares of the company’s stock, valued at approximately $43,013,698,112.32. The disclosure for this sale can be found here. Insiders have sold a total of 583,088 shares of company stock valued at $266,873,978 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mastercard

A number of institutional investors have recently modified their holdings of MA. Activest Wealth Management grew its holdings in Mastercard by 87.4% during the 4th quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock worth $229,000 after acquiring an additional 250 shares in the last quarter. Cross Staff Investments Inc boosted its stake in shares of Mastercard by 16.3% during the fourth quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock valued at $1,343,000 after purchasing an additional 441 shares in the last quarter. Everett Harris & Co. CA increased its holdings in Mastercard by 0.5% during the fourth quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock valued at $21,129,000 after buying an additional 252 shares during the period. Atlantic Union Bankshares Corp raised its stake in Mastercard by 23.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock worth $5,171,000 after buying an additional 2,337 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in Mastercard by 7.2% during the fourth quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock worth $209,000 after buying an additional 33 shares during the period. 97.28% of the stock is 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.