Visa Inc (NYSE:V) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $123.00 target price on the credit-card processor’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.45% from the company’s current price.
According to Zacks, “Shares of Visa have outperformed the industry, year to date. Numerous strategic acquisitions and alliances, technology upgrades and effective marketing have paved the way for the company's long-term growth that have led to consistent revenue growth over the past several years. Visa is well poised to gain from the growing electronic payment processing and strong international business. A solid balance sheet ensures effective capital deployment. Strong earnings guidance instills our confidence in the company. The company’s fiscal fourth-quarter earnings surpassed the Zacks Consensus Estimate and grew year over year. However, higher client incentives and forex volatility are some near-term headwinds”
A number of other equities research analysts also recently weighed in on the company. Deutsche Bank AG raised their price objective 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 reaffirmed a “buy” rating and set a $120.00 price objective on shares of Visa in a research report on Wednesday, October 25th. UBS Group AG (USA) reissued an “overweight” rating on shares of Visa in a report on Thursday, August 24th. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company raised Visa from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $116.08.
Shares of Visa (NYSE:V) traded up $0.29 during trading on Thursday, hitting $111.36. The stock had a trading volume of 3,757,588 shares, compared to its average volume of 6,570,000. The stock has a market capitalization of $254.65 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 1.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.65 and a current ratio of 1.90. Visa has a 1 year low of $75.17 and a 1 year high of $111.42.
Visa (NYSE:V) last issued its quarterly earnings data 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. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. research analysts forecast that Visa will post 4.05 earnings per share for the current year.
In related news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Visa during the second quarter worth approximately $958,000. Cordasco Financial Network purchased a new stake in shares of Visa during the third quarter worth approximately $105,000. Motco increased its position in shares of Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new stake in shares of Visa during the second quarter worth approximately $123,000. Finally, BDO Wealth Advisors LLC purchased a new stake in shares of Visa during the second quarter worth approximately $115,000. Hedge funds and other institutional investors own 81.75% of the company’s stock.
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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