Visa (NYSE:V) Price Target Increased to $315.00 by Analysts at Royal Bank of Canada

Visa (NYSE:V) had its price target boosted by analysts at Royal Bank of Canada from $309.00 to $315.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the credit-card processor’s stock. Royal Bank of Canada’s price objective points to a potential upside of 14.48% from the stock’s current price.

Several other equities analysts have also weighed in on the company. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday. Citigroup lifted their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer lifted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush lifted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Mizuho reiterated a “neutral” rating and issued a $265.00 price objective on shares of Visa in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Stock Performance

NYSE V opened at $275.16 on Wednesday. The stock has a 50-day simple moving average of $279.32 and a two-hundred day simple moving average of $264.05. The firm has a market capitalization of $505.33 billion, a P/E ratio of 30.74, a PEG ratio of 1.89 and a beta of 0.96. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.72% and a net margin of 53.87%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $2.09 EPS. On average, equities analysts forecast that Visa will post 9.88 earnings per share for the current year.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,965 shares of company stock worth $5,256,352. Insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

A number of large investors have recently modified their holdings of the stock. TI Trust Inc. purchased a new stake in shares of Visa during the first quarter worth $303,000. Sigma Investment Counselors Inc. increased its holdings in Visa by 843.9% in the first quarter. Sigma Investment Counselors Inc. now owns 14,885 shares of the credit-card processor’s stock valued at $4,154,000 after buying an additional 13,308 shares during the last quarter. KG&L Capital Management LLC increased its holdings in Visa by 6.8% in the first quarter. KG&L Capital Management LLC now owns 1,470 shares of the credit-card processor’s stock valued at $410,000 after buying an additional 93 shares during the last quarter. Petredis Investment Advisors LLC increased its holdings in Visa by 1.8% in the first quarter. Petredis Investment Advisors LLC now owns 22,151 shares of the credit-card processor’s stock valued at $6,182,000 after buying an additional 395 shares during the last quarter. Finally, Davies Financial Advisors Inc. purchased a new position in Visa in the first quarter valued at $330,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

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.