Wedbush Increases Visa (NYSE:V) Price Target to $300.00

Visa (NYSE:V) had its price objective raised by Wedbush from $280.00 to $300.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the credit-card processor’s stock. Wedbush’s target price points to a potential upside of 9.03% from the stock’s current price.

A number of other research firms have also recently weighed in on V. Citigroup raised their price objective on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Evercore ISI boosted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Mizuho reiterated a “neutral” rating and set a $265.00 price target on shares of Visa in a research note on Wednesday, March 27th. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Finally, KeyCorp boosted their price target on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Stock Up 0.1 %

Visa stock opened at $275.16 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45. The stock has a market capitalization of $505.33 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.90 and a beta of 0.96. Visa has a 1-year low of $216.14 and a 1-year high of $290.96. The business has a fifty day moving average price of $279.32 and a 200-day moving average price of $264.05.

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock valued at $5,256,352 over the last quarter. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Visa

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Westend Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in Visa in the fourth quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in Visa in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in Visa in the fourth quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds 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.