Visa’s (V) Neutral Rating Reiterated at Monness Crespi & Hardt

Visa (NYSE:V)‘s stock had its “neutral” rating restated by Monness Crespi & Hardt in a report released on Tuesday, Benzinga reports.

A number of other research firms have also recently commented on V. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Finally, Evercore ISI lowered their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Performance

Shares of NYSE V traded down $11.86 during trading on Tuesday, reaching $276.77. 7,115,201 shares of the company traded hands, compared to its average volume of 7,195,446. Visa has a 52-week low of $227.78 and a 52-week high of $293.07. The stock has a market capitalization of $506.20 billion, a PE ratio of 30.82, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $271.05 and a 200-day simple moving average of $273.47.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 EPS. Equities research analysts anticipate that Visa will post 9.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Several institutional investors have recently added to or reduced their stakes in the business. Alaethes Wealth LLC grew its holdings in Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares during the last quarter. Jessup Wealth Management Inc increased its holdings in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the last quarter. Cordatus Wealth Management LLC boosted its position in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares during the period. Garden State Investment Advisory Services LLC lifted its holdings in Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after purchasing an additional 38 shares in the last quarter. Finally, Tlwm raised its position in shares of Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

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.