Citigroup Inc. Raises Visa Inc. (V) Price Target to $124.00

Visa Inc. (NYSE:V) had its price objective hoisted by research analysts at Citigroup Inc. from $115.00 to $124.00 in a report released on Wednesday, October 18th. The brokerage presently has a “buy” rating on the credit-card processor’s stock. Citigroup Inc.’s price target would suggest a potential upside of 12.93% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company upgraded Visa from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. Loop Capital increased their target price on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Deutsche Bank AG increased their price target on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Cantor Fitzgerald started coverage on Visa in a research report on Thursday, September 28th. They issued an “overweight” rating and a $120.00 price target for the company. Finally, Instinet increased their price target on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Three analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Visa has an average rating of “Buy” and a consensus price target of $115.95.

Visa (V) opened at 109.80 on Wednesday. Visa has a 1-year low of $75.17 and a 1-year high of $110.74. The company has a market cap of $251.05 billion, a price-to-earnings ratio of 40.83 and a beta of 0.93. The company’s 50-day moving average is $106.11 and its 200 day moving average is $98.73.

Visa (NYSE:V) last released its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, equities analysts predict that Visa will post $3.43 EPS for the current fiscal year.

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In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction dated Thursday, August 17th. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

A number of institutional investors have recently made changes to their positions in V. Waldron LP boosted its stake in Visa by 61.6% during the first quarter. Waldron LP now owns 8,951 shares of the credit-card processor’s stock valued at $791,000 after buying an additional 3,412 shares during the last quarter. 1ST Source Bank lifted its stake in shares of Visa by 0.9% in the 1st quarter. 1ST Source Bank now owns 5,070 shares of the credit-card processor’s stock valued at $451,000 after purchasing an additional 43 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in shares of Visa in the 1st quarter valued at approximately $301,000. Mondrian Investment Partners LTD bought a new stake in shares of Visa in the 1st quarter valued at approximately $48,532,000. Finally, Capital Management Corp VA lifted its stake in shares of Visa by 1.9% in the 1st quarter. Capital Management Corp VA now owns 48,239 shares of the credit-card processor’s stock valued at $4,287,000 after purchasing an additional 882 shares during the last quarter. 81.69% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Visa (NYSE:V)

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