Visa (NYSE:V) Given New $321.00 Price Target at Citigroup

Visa (NYSE:V) had its price target raised by equities researchers at Citigroup from $314.00 to $321.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the credit-card processor’s stock. Citigroup’s price target suggests a potential upside of 16.66% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird boosted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Wells Fargo & Company lifted their price target on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Wedbush lifted their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price target on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $302.58.

Visa Stock Up 0.1 %

NYSE V opened at $275.16 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The business has a 50 day moving average price of $279.32 and a two-hundred day moving average price of $264.05. The stock has a market cap of $505.33 billion, a PE ratio of 30.74, a P/E/G ratio of 1.90 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Visa will post 9.89 EPS for the current fiscal year.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,965 shares of company stock valued at $5,256,352. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Institutional investors and hedge funds have recently modified their holdings of the business. Investment Advisory Services Inc. TX ADV boosted its holdings in Visa by 2.0% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after purchasing an additional 78 shares during the last quarter. Nadler Financial Group Inc. boosted its stake in shares of Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares during the last quarter. Towerpoint Wealth LLC bought a new position in shares of Visa in the 4th quarter valued at about $216,000. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Visa in the fourth quarter valued at about $3,427,000. Finally, Wayfinding Financial LLC raised its holdings in Visa by 10.1% during the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after acquiring an additional 161 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.