Macquarie Issues Pessimistic Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its price target decreased by stock analysts at Macquarie from $425.00 to $410.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the credit-card processor’s stock. Macquarie’s target price points to a potential upside of 19.00% from the stock’s previous close.

V has been the topic of several other research reports. UBS Group set a $425.00 price objective on shares of Visa and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Finally, Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Trading Up 1.0%

Shares of Visa stock opened at $344.53 on Wednesday. The company’s fifty day simple moving average is $344.94 and its 200-day simple moving average is $348.27. The company has a market cap of $631.44 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.02 and a beta of 0.90. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa has a 1 year low of $287.19 and a 1 year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $2.71 earnings per share. As a group, sell-side analysts expect that Visa will post 11.3 EPS for the current year.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in shares of Visa by 1.8% in the third quarter. Jennison Associates LLC now owns 7,502,839 shares of the credit-card processor’s stock valued at $2,561,319,000 after buying an additional 133,919 shares during the last quarter. Hunter Associates Investment Management LLC raised its holdings in shares of Visa by 1.0% in the third quarter. Hunter Associates Investment Management LLC now owns 18,734 shares of the credit-card processor’s stock valued at $6,395,000 after buying an additional 180 shares during the last quarter. Westfuller Advisors LLC raised its holdings in shares of Visa by 36.7% in the third quarter. Westfuller Advisors LLC now owns 2,706 shares of the credit-card processor’s stock valued at $924,000 after buying an additional 726 shares during the last quarter. Delta Financial Advisors LLC raised its holdings in shares of Visa by 0.9% in the third quarter. Delta Financial Advisors LLC now owns 26,054 shares of the credit-card processor’s stock valued at $8,894,000 after buying an additional 242 shares during the last quarter. Finally, Tranquilli Financial Advisor LLC raised its holdings in shares of Visa by 7.7% in the third quarter. Tranquilli Financial Advisor LLC now owns 2,222 shares of the credit-card processor’s stock valued at $759,000 after buying an additional 158 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

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.