Visa (NYSE:V) Price Target Raised to $200.00 at Wells Fargo & Co

Visa (NYSE:V) had its target price hoisted by Wells Fargo & Co from $181.00 to $200.00 in a research note issued to investors on Wednesday, The Fly reports. Wells Fargo & Co currently has an outperform rating on the credit-card processor’s stock.

A number of other analysts have also recently weighed in on V. Morgan Stanley cut their price target on RPC from $12.00 to $9.50 and set an underperform rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group restated a buy rating and issued a GBX 2,253 ($29.44) price target on shares of Burford Capital in a research note on Monday, March 25th. UBS Group raised their price target on Tableau Software to $134.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Goldman Sachs Group set a €14.15 ($16.45) price target on Assicurazioni Generali and gave the company a sell rating in a research note on Thursday, May 2nd. Finally, Oppenheimer set a $119.00 price target on American Express and gave the company a buy rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Visa has an average rating of Buy and an average price target of $183.43.

NYSE:V opened at $180.33 on Wednesday. The stock has a market capitalization of $360.77 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 2.05 and a beta of 0.96. The company has a fifty day moving average of $170.22. Visa has a 12-month low of $121.60 and a 12-month high of $181.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.62 and a current ratio of 1.62.

Visa (NYSE:V) last released its earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Visa had a return on equity of 40.56% and a net margin of 51.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the business posted $1.11 earnings per share. Visa’s revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Visa will post 5.37 earnings per share for the current fiscal year.

In other news, EVP William M. Sheedy sold 75,676 shares of Visa stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $165.24, for a total transaction of $12,504,702.24. Following the sale, the executive vice president now owns 300,114 shares in the company, valued at $49,590,837.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Lowe Wealth Advisors LLC increased its position in Visa by 114.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 86 shares during the period. Highwater Wealth Management LLC acquired a new position in Visa in the 4th quarter valued at about $33,000. Essex Investment Management Co. LLC acquired a new position in Visa in the 4th quarter valued at about $33,000. Hexavest Inc. acquired a new position in Visa in the 2nd quarter valued at about $40,000. Finally, Ironwood Financial llc increased its position in Visa by 67.5% in the 4th quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock valued at $44,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 80.97% of the company’s stock.

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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