Visa’s (NYSE:V) “Overweight” Rating Reaffirmed at Morgan Stanley

Visa Inc. (NYSE:V)‘s stock had its “overweight” rating reaffirmed by equities researchers at Morgan Stanley in a note issued to investors on Saturday, July 22nd. They presently have a $114.00 price objective on the credit-card processor’s stock, up from their previous price objective of $107.00. Morgan Stanley’s target price suggests a potential upside of 11.21% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Cowen and Company reissued an “outperform” rating and issued a $107.00 price objective (up from $105.00) on shares of Visa in a research note on Saturday, July 22nd. Bank of America Corporation upped their target price on Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Nomura upped their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Instinet upped their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Loop Capital upped their target price on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $104.56.

Visa (NYSE:V) traded up 0.34% on Friday, reaching $102.51. 5,670,884 shares of the company’s stock were exchanged. Visa has a one year low of $75.17 and a one year high of $103.93. The stock has a market cap of $234.38 billion, a price-to-earnings ratio of 38.12 and a beta of 0.94. The firm has a 50 day moving average of $98.78 and a 200-day moving average of $92.76. Visa also was the recipient of unusually large options trading on Wednesday. Investors purchased 12,583 put options on the stock. This is an increase of 163% compared to the typical volume of 4,785 put options.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Equities research analysts forecast that Visa will post $3.43 EPS for the current fiscal year.

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In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction dated Thursday, July 27th. The stock was 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 $1,751,797.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Several hedge funds have recently modified their holdings of V. Vicus Capital increased its stake in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock worth $419,000 after buying an additional 701 shares in the last quarter. Weitz Investment Management Inc. increased its stake in Visa by 16,443.8% in the fourth quarter. Weitz Investment Management Inc. now owns 860,277 shares of the credit-card processor’s stock worth $67,119,000 after buying an additional 855,077 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Visa by 2.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 583,049 shares of the credit-card processor’s stock worth $45,491,000 after buying an additional 16,566 shares in the last quarter. Vulcan Value Partners LLC increased its stake in Visa by 1.7% in the fourth quarter. Vulcan Value Partners LLC now owns 4,839,570 shares of the credit-card processor’s stock worth $377,563,000 after buying an additional 79,656 shares in the last quarter. Finally, Archon Partners LLC increased its stake in Visa by 0.3% in the fourth quarter. Archon Partners LLC now owns 101,560 shares of the credit-card processor’s stock worth $7,924,000 after buying an additional 260 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.

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.

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