Mastercard (NYSE:MA) Given New $660.00 Price Target at KeyCorp

Key Points

• KeyCorp raised its price target for Mastercard from $635.00 to $660.00, indicating a potential upside of 17.09% from the stock's previous close, and maintaining an "overweight" rating.
• In its latest earnings report, Mastercard posted $4.15 earnings per share and revenue of $8.13 billion, exceeding analysts' expectations.
• Mastercard currently holds an average rating of "Moderate Buy" among analysts, with 25 out of 33 giving it a buy rating or better.

Mastercard (NYSE:MA - Get Free Report) had its target price lifted by equities research analysts at KeyCorp from $635.00 to $660.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the credit services provider's stock. KeyCorp's target price points to a potential upside of 17.09% from the stock's previous close.

A number of other brokerages have also issued reports on MA. Truist Financial cut their price target on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Monness Crespi & Hardt lowered shares of Mastercard from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Wolfe Research set a $655.00 target price on shares of Mastercard in a research note on Monday, June 23rd. UBS Group lifted their target price on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a research note on Thursday, July 17th. They set a "buy" rating and a $650.00 target price on the stock. Five analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $613.73.

Mastercard Price Performance

Shares of Mastercard stock opened at $563.66 on Friday. The firm has a market cap of $513.89 billion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. Mastercard has a 12-month low of $439.59 and a 12-month high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. The company's fifty day simple moving average is $564.67 and its two-hundred day simple moving average is $551.39.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.05 by $0.10. The business had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The company's revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.50 EPS. As a group, equities analysts expect that Mastercard will post 15.91 EPS for the current year.

Insider Activity at Mastercard

In other news, insider Raj Seshadri sold 1,100 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $546.77, for a total transaction of $601,447.00. Following the completion of the transaction, the insider directly owned 12,921 shares of the company's stock, valued at $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $572.86, for a total transaction of $549,372.74. Following the transaction, the insider directly owned 25,540 shares of the company's stock, valued at $14,630,844.40. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,753 shares of company stock valued at $20,351,084 over the last ninety days. Company insiders own 0.09% of the company's stock.

Institutional Trading of Mastercard

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Accredited Investors Inc. increased its holdings in Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock valued at $394,000 after buying an additional 18 shares during the last quarter. Wealthstream Advisors Inc. increased its holdings in Mastercard by 2.9% during the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock valued at $347,000 after buying an additional 18 shares during the last quarter. Pinion Investment Advisors LLC increased its holdings in Mastercard by 0.8% during the second quarter. Pinion Investment Advisors LLC now owns 2,272 shares of the credit services provider's stock valued at $1,276,000 after buying an additional 18 shares during the last quarter. KRS Capital Management LLC increased its holdings in Mastercard by 0.6% during the second quarter. KRS Capital Management LLC now owns 2,848 shares of the credit services provider's stock valued at $1,601,000 after buying an additional 18 shares during the last quarter. Finally, Nvest Financial LLC increased its holdings in Mastercard by 1.2% during the second quarter. Nvest Financial LLC now owns 1,505 shares of the credit services provider's stock valued at $846,000 after buying an additional 18 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.