Visa (NYSE:V) had its target price hoisted by investment analysts at Buckingham Research from $152.00 to $169.00 in a report issued on Tuesday. The firm currently has a “buy” rating on the credit-card processor’s stock. Buckingham Research’s price objective indicates a potential upside of 26.72% from the company’s previous close.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Saturday, April 7th. Argus boosted their price objective on Visa from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 27th. ValuEngine raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Vetr raised Visa from a “buy” rating to a “strong-buy” rating and set a $135.40 price objective on the stock in a research note on Thursday, March 1st. Finally, Morgan Stanley boosted their price objective on Visa from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, April 26th. Three analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $139.63.
Visa traded up $2.44, hitting $133.37, during midday trading on Tuesday, according to Marketbeat Ratings. 570,150 shares of the company were exchanged, compared to its average volume of 7,395,135. The company has a market capitalization of $276.60 billion, a PE ratio of 38.30, a PEG ratio of 1.74 and a beta of 0.98. Visa has a 1-year low of $93.19 and a 1-year high of $136.69. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.58.
Visa (NYSE:V) last announced its earnings results on Wednesday, April 25th. The credit-card processor reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.10. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 33.90% and a net margin of 48.18%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. equities research analysts predict that Visa will post 4.52 EPS for the current fiscal year.
In other Visa news, SVP James H. Hoffmeister sold 8,423 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $127.67, for a total transaction of $1,075,364.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Ryan Mcinerney sold 38,500 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $131.33, for a total value of $5,056,205.00. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of V. BlackRock Inc. increased its holdings in Visa by 2.5% during the 4th quarter. BlackRock Inc. now owns 120,243,230 shares of the credit-card processor’s stock worth $13,710,132,000 after purchasing an additional 2,986,301 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Visa by 730.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,638 shares of the credit-card processor’s stock valued at $341,221,000 after acquiring an additional 2,632,338 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Visa by 28.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,943,917 shares of the credit-card processor’s stock valued at $791,746,000 after acquiring an additional 1,556,120 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Visa by 56.1% in the third quarter. Prudential Financial Inc. now owns 4,023,202 shares of the credit-card processor’s stock valued at $423,401,000 after acquiring an additional 1,445,091 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of Visa by 53.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,929,346 shares of the credit-card processor’s stock valued at $470,029,000 after acquiring an additional 1,363,772 shares in the last quarter. 79.81% of the stock is owned by hedge funds and other institutional investors.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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