Wells Fargo & Company upgraded shares of Visa Inc. (NYSE:V) from a market perform rating to an outperform rating in a report issued on Tuesday, MarketBeat reports. The firm currently has $120.00 price target on the credit-card processor’s stock, up from their previous price target of $107.01.
A number of other equities research analysts have also weighed in on the company. KeyCorp reaffirmed a buy rating and issued a $110.00 price objective on shares of Visa in a report on Wednesday, October 4th. Robert W. Baird reissued an outperform rating and set a $128.00 price target (up previously from $122.00) on shares of Visa in a research note on Monday, October 2nd. Buckingham Research started coverage on Visa in a research note on Monday, October 2nd. They set a buy rating and a $129.00 price target on the stock. Cantor Fitzgerald started coverage on Visa in a research note on Thursday, September 28th. They set an overweight rating and a $120.00 price target on the stock. Finally, Vetr raised Visa from a hold rating to a buy rating and set a $108.51 price target on the stock in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. Visa has a consensus rating of Buy and an average price target of $109.89.
Visa (NYSE V) opened at 108.11 on Tuesday. The firm’s 50-day moving average price is $105.03 and its 200-day moving average price is $97.44. The stock has a market cap of $247.19 billion, a P/E ratio of 40.20 and a beta of 0.93. Visa has a 12 month low of $75.17 and a 12 month high of $108.71.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts predict that Visa will post $3.42 earnings per share for the current year.
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In other news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Mercer Capital Advisers Inc. lifted its position in shares of Visa by 2.2% during the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after purchasing an additional 25 shares during the last quarter. Motco raised its stake in Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after acquiring an additional 236 shares during the period. BDO Wealth Advisors LLC acquired a new stake in Visa during the second quarter worth about $115,000. Mascoma Wealth Management LLC acquired a new stake in Visa during the second quarter worth about $122,000. Finally, MPS Loria Financial Planners LLC acquired a new stake in Visa during the second quarter worth about $123,000. 81.68% of the stock is currently owned by institutional investors and hedge funds.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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