Wells Fargo & Company Upgrades Mastercard (NYSE:MA) to "Strong-Buy"

Key Points

• Wells Fargo & Company has upgraded Mastercard's stock to a "strong-buy" rating, reflecting increased confidence in the company's performance.
• Mastercard's recent earnings report revealed a 16.8% revenue growth year-over-year, with earnings per share surpassing analyst estimates.
• There is a strong consensus among analysts, with four stating a "Strong Buy," twenty-three a "Buy," and an average price target of $638.00 for the stock.

Mastercard (NYSE:MA - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

MA has been the subject of a number of other reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Mastercard in a research report on Friday, August 1st. Morgan Stanley upped their price objective on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial decreased their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Royal Bank Of Canada boosted their target price on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Robert W. Baird boosted their target price on Mastercard from $640.00 to $660.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $638.00.

Mastercard Stock Performance

NYSE:MA opened at $570.57 on Wednesday. The stock has a fifty day moving average price of $579.88 and a 200-day moving average price of $564.14. The company has a market cap of $515.80 billion, a price-to-earnings ratio of 38.47, a PEG ratio of 2.34 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. Mastercard has a fifty-two week low of $465.59 and a fifty-two week high of $601.77.

Mastercard (NYSE:MA - Get Free Report) last released its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company's revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.50 EPS. As a group, equities analysts anticipate that Mastercard will post 15.91 EPS for the current fiscal year.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company's stock, valued at $18,330,922.26. This represents a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mastercard

A number of institutional investors and hedge funds have recently bought and sold shares of MA. LGT Financial Advisors LLC acquired a new position in Mastercard in the 2nd quarter worth about $25,000. Family Legacy Financial Solutions LLC acquired a new position in Mastercard in the 2nd quarter worth about $26,000. Flaharty Asset Management LLC acquired a new position in Mastercard in the 1st quarter worth about $27,000. Evolution Wealth Management Inc. acquired a new position in Mastercard in the 2nd quarter worth about $29,000. Finally, Keystone Global Partners LLC acquired a new position in Mastercard in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 97.28% of the company's stock.

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.

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