Cowen and Company Reiterates Buy Rating for Visa Inc. (V)

Visa Inc. (NYSE:V)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a note issued to investors on Thursday. They currently have a $107.00 price objective on the credit-card processor’s stock. Cowen and Company’s target price suggests a potential downside of 1.53% from the company’s current price.

Several other research analysts also recently weighed in on V. BidaskClub upgraded shares of Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $108.51 target price for the company in a research note on Tuesday, September 26th. Sanford C. Bernstein restated an “outperform” rating and issued a $110.00 target price on shares of Visa in a research note on Thursday, July 13th. Sandler O’Neill restated a “hold” rating on shares of Visa in a research note on Wednesday, June 21st. Finally, KeyCorp restated a “buy” rating and issued a $110.00 target price on shares of Visa in a research note on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. Visa has a consensus rating of “Buy” and an average target price of $109.89.

Visa (NYSE:V) traded up 0.51% during midday trading on Thursday, hitting $108.66. 5,154,563 shares of the stock traded hands. Visa has a one year low of $75.17 and a one year high of $109.26. The company has a market cap of $248.44 billion, a PE ratio of 40.41 and a beta of 0.93. The company’s 50-day moving average is $105.18 and its 200-day moving average is $97.58.

Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities research analysts expect that Visa will post $3.42 EPS for the current fiscal year.

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In other Visa news, Director Mary B. Cranston sold 10,400 shares of the firm’s 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 transaction 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 firm’s stock in a transaction dated Thursday, July 27th. The shares were 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. 0.14% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Krilogy Financial LLC grew its stake in shares of Visa by 0.3% in the 2nd quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 7 shares during the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Visa by 0.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 4,747 shares of the credit-card processor’s stock worth $445,000 after purchasing an additional 20 shares during the last quarter. Baker Ellis Asset Management LLC grew its stake in shares of Visa by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 6,262 shares of the credit-card processor’s stock worth $587,000 after purchasing an additional 20 shares during the last quarter. Mercer Capital Advisers Inc. grew its stake in shares of Visa by 2.2% in the 1st 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. Finally, Smithfield Trust Co. grew its stake in shares of Visa by 0.3% in the 1st quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock worth $804,000 after purchasing an additional 25 shares during the last quarter. 81.68% of the stock is currently owned by hedge funds and other institutional investors.

About Visa

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.

Analyst Recommendations for Visa (NYSE:V)

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