Visa (NYSE:V) Price Target Raised to $340.00 at Deutsche Bank Aktiengesellschaft

Visa (NYSE:V) had its price target raised by Deutsche Bank Aktiengesellschaft from $300.00 to $340.00 in a research note published on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the credit-card processor’s stock.

V has been the subject of several other research reports. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. TD Cowen lowered their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Oppenheimer began coverage on shares of Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.07.

Visa Stock Up 2.9 %

V opened at $290.16 on Wednesday. Visa has a twelve month low of $232.99 and a twelve month high of $295.78. The firm has a market cap of $530.68 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 1.95 and a beta of 0.96. The firm’s 50-day simple moving average is $280.09 and its 200-day simple moving average is $273.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business posted $2.33 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Visa will post 9.92 EPS for the current fiscal year.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Visa

Several institutional investors have recently added to or reduced their stakes in V. POM Investment Strategies LLC raised its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC raised its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa during the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is owned by 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.