Mastercard Trails Market Despite Earnings Growth, Says Giverny Capital
Mastercard (MA) shares have underperformed the broader market despite strong earnings growth, according to Giverny Capital Asset Management's Q2 2026 investor letter. The stock closed at $547.44 on July 20, 2026, with a market cap of $483.71 billion. While Mastercard posted a one-month return of 11.06%, its shares lost 2.99% over the past 52 weeks and fell 10% in the first half of 2026. Giverny Capital notes that Mastercard continues to grow earnings per share at healthy rates, with analysts expecting 15% EPS compounding over the next few years, similar to its 20-year historical rate. However, the stock has lagged the S&P 500 over the past five years. The article also highlights broader market dispersion, with 210 S&P 500 stocks losing value despite the index rising 10.2% in the first half of 2026. Mastercard ranks 11th on Insider Monkey's list of 40 most popular hedge fund stocks heading into 2026, with 157 hedge fund portfolios holding the stock at the end of Q1 2026.
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