JPMorgan Chase & Co. Lowers Visa (NYSE:V) Price Target to $290.00

Visa (NYSE:V) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $300.00 to $290.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the credit-card processor’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 14.33% from the company’s previous close.

V has been the topic of a number of other reports. UBS Group lifted their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Bank of America reissued a “neutral” rating and set a $297.00 target price (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Robert W. Baird raised their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Visa Price Performance

Shares of Visa stock traded down $11.13 during midday trading on Wednesday, hitting $253.66. 6,153,771 shares of the company traded hands, compared to its average volume of 6,849,219. The firm’s fifty day moving average price is $271.52 and its 200-day moving average price is $274.54. The stock has a market cap of $463.93 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.87 and a beta of 0.95. Visa has a 12 month low of $227.68 and a 12 month high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the firm posted $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Visa will post 9.94 earnings per share for the current year.

Insider Activity

In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Visa

Institutional investors and hedge funds have recently modified their holdings of the stock. Alaethes Wealth LLC grew its position in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares in the last quarter. Jessup Wealth Management Inc grew its holdings in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after buying an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC increased its stake in Visa by 2.5% in the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 37 shares during the last quarter. Cordatus Wealth Management LLC raised its holdings in shares of Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its position in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after acquiring an additional 38 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.