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

Visa (NYSE:V) had its price objective reduced by Truist Financial from $372.00 to $361.00 in a report released on Friday, MarketBeat reports. The firm currently has a “buy” rating on the credit-card processor’s stock. Truist Financial’s price target would suggest a potential upside of 16.58% from the stock’s current price.

A number of other equities research analysts also recently weighed in on V. Piper Sandler set a $160.00 price target on Visa in a research note on Wednesday, January 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 price objective on shares of Visa in a report on Friday, January 30th. UBS Group lowered their price objective on Visa from $425.00 to $390.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. BMO Capital Markets assumed coverage on Visa in a report on Tuesday. They set an “outperform” rating and a $365.00 price objective on the stock. Finally, Loop Capital assumed coverage on Visa in a report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective on the stock. Seven equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $387.79.

Visa Stock Up 0.3%

V opened at $309.66 on Friday. Visa has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The business has a 50-day moving average of $309.88 and a 200-day moving average of $328.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $562.09 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 1.77 and a beta of 0.80.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business earned $2.75 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. Equities research analysts forecast that Visa will post 12.84 EPS for the current fiscal year.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the sale, the director owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.12% of the stock is owned by company insiders.

Institutional Trading of Visa

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares during the period. Matrix Asset Advisors Inc. NY lifted its position in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after acquiring an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. lifted its position in shares of Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after acquiring an additional 2,230 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.