Should you buy Mastercard shares as they trade at record-high levels?

Mastercard (NYSE:MA) shares traded yesterday at record-high levels. The stock is up 19.35% YTD and keeps on going.

On top of that, Mastercard is paying a quarterly dividend, too. The 5-year growth rate is 17.80%, and the company increased its dividend in the past 11 consecutive years.

Also, YoY revenue growth is way above the sector median – 13.06% vs. 7.28%.

Mastercard shares trade above horizontal resistance

It is not by chance that Mastercard shares reached record price levels. For the past two and a half years, the $400 level acted as a massive horizontal resistance.

For three times in a row, the market tried to move above, failing each time. However, on every move lower, new buying opportunities appeared.

Yesterday’s push above resistance comes at the end of a bullish breakout from a pennant formation. Pennants usually form ahead resistance areas as the market builds energy to break above.

What do analysts say about Mastercard stocks’ price?

Almost all analysts following Mastercard have issued buy ratings. More precisely, 72 out of 74 analysts have a buy rating for Mastercard shares, while only 2 have a sell rating. No analyst is neutral.

Most recently, Mizuho maintained its buy rating with a price target of $435. The same did J.P. Morgan, this time with a price target of $510.