Visa (NYSE:V) PT Lowered to $318.00

Visa (NYSE:V) had its price objective lowered by equities research analysts at TD Cowen from $320.00 to $318.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the credit-card processor’s stock. TD Cowen’s target price indicates a potential upside of 25.28% from the stock’s current price.

Other analysts have also issued research reports about the company. UBS Group increased their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday. Oppenheimer increased their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley cut their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.77.

Visa Stock Performance

Shares of NYSE V opened at $253.84 on Wednesday. Visa has a 1 year low of $227.68 and a 1 year high of $290.96. The stock has a fifty day moving average price of $270.45 and a two-hundred day moving average price of $274.25. The firm has a market cap of $464.26 billion, a P/E ratio of 28.36, a PEG ratio of 1.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.37.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts forecast that Visa will post 9.94 EPS for the current fiscal year.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its holdings in Visa by 111.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 97,755 shares of the credit-card processor’s stock worth $25,451,000 after acquiring an additional 51,439 shares during the period. San Luis Wealth Advisors LLC grew its holdings in Visa by 17.6% during the 4th quarter. San Luis Wealth Advisors LLC now owns 16,159 shares of the credit-card processor’s stock worth $4,207,000 after acquiring an additional 2,422 shares during the period. Columbia Trust Co 01012016 grew its holdings in Visa by 14.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 8,991 shares of the credit-card processor’s stock worth $2,341,000 after acquiring an additional 1,128 shares during the period. RNC Capital Management LLC grew its holdings in Visa by 1.7% during the 4th quarter. RNC Capital Management LLC now owns 31,419 shares of the credit-card processor’s stock worth $8,180,000 after acquiring an additional 522 shares during the period. Finally, IFG Advisory LLC grew its holdings in Visa by 3.4% during the 4th quarter. IFG Advisory LLC now owns 4,404 shares of the credit-card processor’s stock worth $1,147,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

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.