Shares of payment processing company Mastercard (NYSE:MA) fell in trading after a bleak forecast. The company expects revenues to grow in the low double digits year-over-year in the fourth quarter. Mastercard reported adjusted earnings of $3.39 per share in the third quarter, up by 24% year-over-year on a currency-neutral basis, which beat analysts’ consensus estimate of $3.21 per share.
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The company’s Q3 net revenues increased by 11% year-over-year to $6.5 billion, in line with analysts’ expectations.
Is MA a Good Stock to Buy Now?
Analysts are bullish about MA stock, with a Strong Buy consensus rating based on 19 Buys and two Holds. The average MA price target of $458.35 implies an upside potential of 24.6% from current levels.
