Here’s How Analysts Responded to Mastercard’s Q1

Here’s How Analysts Responded to Mastercard’s Q1
A Mastercard logo is seen on a credit card in this picture illustration taken on Aug. 30, 2017. Thomas White/Reuters
Benzinga
Updated:

Analysts maintained their conviction on Mastercard Incorporated post Q1 results. Despite Mastercard’s 1Q22 10 percent broad-based beat, Barclays analyst James Fotheringham lowered estimates marginally (by as much as 2 percent) due to revenue headwinds expected from exiting Russia.

Fotheringham also cut the target price to $402 (from $412) and rated the stock as Outperform. The revised 2022E guidance for GAAP net revenue growth at the high end of mid-teens percent YoY (versus prior high-teens percent) implies elevated cross-border activity (now 112 percent of 2019 levels ex-Russia) should partially offset the revenue impact from exiting Russia for the remainder of this year.