Mastercard (NYSE:MA) Price Target Raised to $584.00 at Citigroup

Mastercard (NYSE:MA - Get Free Report) had its price target boosted by research analysts at Citigroup from $572.00 to $584.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the credit services provider's stock. Citigroup's price objective points to a potential upside of 14.85% from the company's previous close.

A number of other research firms have also issued reports on MA. Keefe, Bruyette & Woods increased their target price on Mastercard from $580.00 to $618.00 and gave the company an "outperform" rating in a report on Monday, December 9th. KeyCorp increased their price objective on Mastercard from $515.00 to $580.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. UBS Group lifted their target price on Mastercard from $590.00 to $610.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Susquehanna increased their price target on shares of Mastercard from $540.00 to $605.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Mastercard from $593.00 to $580.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $566.63.

Mastercard Price Performance

MA stock traded up $3.58 on Tuesday, hitting $508.49. 2,704,749 shares of the company's stock traded hands, compared to its average volume of 2,555,173. The stock has a market cap of $466.71 billion, a price-to-earnings ratio of 38.46, a P/E/G ratio of 2.36 and a beta of 1.10. Mastercard has a 1-year low of $425.48 and a 1-year high of $537.70. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The stock has a fifty day moving average of $524.14 and a 200-day moving average of $493.23.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company's revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $3.39 EPS. On average, analysts forecast that Mastercard will post 14.47 EPS for the current fiscal year.

Mastercard announced that its Board of Directors has initiated a stock repurchase program on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Mastercard

Large investors have recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new position in Mastercard in the third quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Mastercard in the 2nd quarter valued at $34,000. Fairway Wealth LLC bought a new position in shares of Mastercard during the 2nd quarter worth about $35,000. First Personal Financial Services acquired a new stake in shares of Mastercard during the 3rd quarter valued at about $39,000. Finally, Lowe Wealth Advisors LLC increased its stake in Mastercard by 74.0% in 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 period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

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.