Visa (NYSE:V) PT Raised to $300.00

Visa (NYSE:V) had its target price lifted by analysts at Wedbush from $280.00 to $300.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the credit-card processor’s stock. Wedbush’s target price would indicate a potential upside of 9.40% from the stock’s current price.

Several other equities research analysts also recently weighed in on V. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Evercore ISI increased their price target on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Keefe, Bruyette & Woods increased their price target on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Raymond James increased their price target on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.35.

Visa Stock Performance

Shares of Visa stock opened at $274.23 on Wednesday. The firm has a market capitalization of $503.63 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.88 and a beta of 0.96. Visa has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $279.49 and its two-hundred day moving average is $263.90.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating the consensus estimate of $2.34 by $0.07. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 earnings per share. Research analysts forecast that Visa will post 9.88 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders sold a total of 18,965 shares of company stock worth $5,256,352 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Visa

Hedge funds have recently added to or reduced their stakes in the business. Investment Advisory Services Inc. TX ADV increased its holdings in Visa by 2.0% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after purchasing an additional 78 shares during the last quarter. Towerpoint Wealth LLC bought a new stake in shares of Visa in the 4th quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. bought a new stake in shares of Visa in the 4th quarter valued at approximately $3,427,000. Wayfinding Financial LLC increased its holdings in shares of Visa by 10.1% in the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after acquiring an additional 161 shares during the last quarter. Finally, Richelieu Gestion SA bought a new stake in shares of Visa in the 4th quarter valued at approximately $307,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.