Wells Fargo analyst Donald Fandetti reiterated a Buy rating on Mastercard (MA – Research Report) yesterday and set a price target of $530.00.
Donald Fandetti has given his Buy rating due to a combination of factors that indicate Mastercard’s resilience and potential for growth. In the first quarter, Mastercard’s adjusted EPS exceeded both Wells Fargo’s estimate and the consensus, suggesting strong financial performance despite a slight revenue beat. Furthermore, operational expenses were lower than expected, providing an additional positive note to the company’s efficiency and cost management. Despite the pressures from foreign exchange, Fandetti recognizes Mastercard’s ability to maintain stable currency-neutral revenue guidance for the year.
Additionally, the report indicates that Mastercard’s spending trends, particularly in payment network revenues and cross-border volumes, have shown improvement quarter over quarter. While the second quarter and full-year 2024 guidance are modestly below consensus estimates due to FX headwinds, the overall outlook remains positive. Fandetti’s analysis suggests that Mastercard’s stock has the potential for appreciation, which is reflected in the Buy rating despite the shares trading at a premium compared to his 2025 EPS estimate.
In another report released today, Barclays also maintained a Buy rating on the stock with a $549.00 price target.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MA in relation to earlier this year.
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Mastercard (MA) Company Description:
Mastercard, Inc. operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs. The company was founded in 1966 and is headquartered in Purchase, NY.
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