Mastercard stock posts best day in nearly three years
Shares of Mastercard Inc. MA, +5.29% closed up 5.3% in Wednesday trading, marking the stock’s largest one-day percentage gain since January 2016, according to Dow Jones Market Data. Mastercard posted a sizable third-quarter earnings beat and in-line revenue on Tuesday morning, but shares slumped after the release. Analysts chimed in with positive commentary on Wednesday. "Although Mastercard’s third-quarter top-line results were just in line and the stock sold off yesterday, we found a lot to like including accelerating underlying volume growth, rising yields and lower expenses," wrote Buckingham Research analyst Chris Brendler. Benrstein’s Harshita Rawat called the company’s third-quarter volume metrics "pristine" and highlighted discussion by Mastercard’s executives of emerging opportunities in business-to-business payments. Wednesday was a strong day for financial-technology stocks in general, with Square Inc. SQ, +6.82% shares up 6.8%, PayPal Holdings Inc. PYPL, +4.07% shares up 4.1%, and Visa Inc. V, +3.83% shares up 3.8%. Mastercard’s shares have risen 33% over the past 12 months, while the S&P 500 SPX, +1.09% has climbed 5.3%.
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