Visa (NYSE:V) PT Raised to $299.00

Visa (NYSE:V) had its target price boosted by analysts at Oppenheimer from $297.00 to $299.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the credit-card processor’s stock. Oppenheimer’s price target points to a potential upside of 8.66% from the stock’s current price.

Several other analysts have also weighed in on V. Royal Bank of Canada upped their price objective on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a report on Friday, January 26th. UBS Group upped their price objective on Visa from $305.00 to $315.00 and gave the company a “buy” rating in a report on Friday, January 26th. William Blair restated an “outperform” rating on shares of Visa in a report on Friday, January 26th. Evercore ISI upped their price objective on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, KeyCorp upped their price objective on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Trading Up 0.1 %

Shares of V stock opened at $275.16 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40. Visa has a 1 year low of $216.14 and a 1 year high of $290.96. The stock has a fifty day moving average of $279.32 and a two-hundred day moving average of $264.05. The firm has a market capitalization of $505.33 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96.

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

Insider Activity at Visa

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. acquired a new position in Visa in the 1st quarter worth about $8,417,000. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Visa by 0.9% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 6,786 shares of the credit-card processor’s stock worth $1,894,000 after acquiring an additional 58 shares in the last quarter. MONECO Advisors LLC boosted its stake in shares of Visa by 4.7% during the 1st quarter. MONECO Advisors LLC now owns 7,271 shares of the credit-card processor’s stock worth $2,029,000 after acquiring an additional 329 shares in the last quarter. TI Trust Inc. bought a new stake in shares of Visa during the 1st quarter worth about $303,000. Finally, Sigma Investment Counselors Inc. boosted its stake in shares of Visa by 843.9% during the 1st quarter. Sigma Investment Counselors Inc. now owns 14,885 shares of the credit-card processor’s stock worth $4,154,000 after acquiring an additional 13,308 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

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.