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Visa and Mastercard just posted record closing highs, and some of the market’s most closely watched investors are backing the move.
On Monday, August 24, shares of both payment networks rose more than 3% in a single session, each closing at an all-time high. Visa settled at $382.41, breaking the previous record of $373.31 set in June 2025, according to Dow Jones Market Data.
Mastercard closed 3.31% higher for the day, near $598 a share, also marking a new high. The rally followed strong quarterly earnings from both companies, fresh buying from prominent investors, and continued signs that consumer spending in the United States remains steady.
Several factors lined up to drive this kind of hike:
- Earnings beat expectations. Visa’s fiscal third-quarter results showed revenue that climbed 14% year over year to $11.6 billion, with earnings per share of $3.32, ahead of analyst forecasts. Mastercard also reported revenue and earnings above consensus estimates for its most recent quarter.
- A major investor built a new stake. Pershing Square, the hedge fund run by Bill Ackman, disclosed a roughly $1.1 billion position in Visa. The fund also added Mastercard, Netflix, and several other companies, calling it one of the largest shifts in its portfolio in years.
- Analysts raised price targets. Truist raised its target on Visa to $406 from $394 and kept a Buy rating. Mastercard’s average analyst price target now stands at $662.65, with several firms rating the stock a Buy.
Why investors watch these stocks closely
Visa and Mastercard do not lend money to cardholders. They earn fees on the volume of transactions that move through their networks, while the banks that issue the cards carry the credit risk. Because of this, both companies’ results are often read as a signal of how much consumers are actually spending, rather than how much debt they are taking on.
That is one reason Monday’s climb drew attention. It came at a time when many shoppers say they are being more careful with their money, yet spending on Visa and Mastercard’s networks has stayed resilient.
Visa is outperforming Mastercard this year
The two stocks tend to move together, but 2026 has shown a wider gap than usual.
- Visa has gained about 9% year to date.
- Mastercard has risen about 5% year to date.
- American Express, which lends directly to cardholders and carries credit risk, is down about 9% over the same period.
Financial disclosures also show that investment accounts linked to President Trump bought Visa and Mastercard shares in June, as part of a wider set of transactions that included Berkshire Hathaway and Cintas.
What to watch next
Both stocks are now trading near levels that traders consider significant resistance points. A close above those levels could reinforce the current trend. At the same time, the speed of the rally means both shares could be more sensitive to profit-taking if sentiment shifts.
For now, strong earnings, rising analyst targets, and high-profile buying have combined to push Visa and Mastercard into record territory together for the first time in more than a year.
