Visa (NYSE:V – Get Rating) had its price objective increased by analysts at Jefferies Financial Group from $225.00 to $260.00 in a research note issued on Wednesday, The Fly reports. The firm presently has a “buy” rating on the credit-card processor’s stock. Jefferies Financial Group’s price target indicates a potential upside of 17.96% from the company’s previous close. Jefferies Financial Group also issued estimates for Visa’s FY2023 earnings at $8.33 EPS, Q1 2024 earnings at $2.33 EPS, Q2 2024 earnings at $2.31 EPS, Q3 2024 earnings at $2.43 EPS, Q4 2024 earnings at $2.63 EPS and FY2024 earnings at $9.57 EPS.
Other equities analysts have also issued reports about the company. Oppenheimer dropped their price objective on Visa from $216.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Visa from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, October 13th. BMO Capital Markets dropped their price objective on Visa from $257.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. Raymond James dropped their price objective on Visa from $262.00 to $261.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 18th. Finally, UBS Group dropped their price objective on Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $253.59.
Visa Price Performance
Shares of NYSE:V opened at $220.41 on Wednesday. Visa has a fifty-two week low of $174.60 and a fifty-two week high of $235.85. The business has a 50-day moving average of $211.91 and a two-hundred day moving average of $204.13. The stock has a market capitalization of $415.14 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.45 and a quick ratio of 1.45.
Visa declared that its Board of Directors has approved a stock repurchase program on Tuesday, October 25th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Insider Transactions at Visa
In other Visa news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Visa news, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $50,291,707.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.
Institutional Trading of Visa
Several institutional investors and hedge funds have recently made changes to their positions in V. McClarren Financial Advisors Inc. bought a new stake in shares of Visa during the 3rd quarter valued at $26,000. Global Wealth Strategies & Associates bought a new stake in shares of Visa during the 4th quarter valued at $26,000. Cowa LLC bought a new stake in shares of Visa during the 3rd quarter valued at $29,000. JDM Financial Group LLC bought a new stake in shares of Visa in the 4th quarter valued at $29,000. Finally, Aurora Private Wealth Inc. increased its position in shares of Visa by 7,648.7% in the 2nd quarter. Aurora Private Wealth Inc. now owns 79,502 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 78,476 shares in the last quarter. Institutional investors own 81.87% of the company’s stock.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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