BMO Capital Markets Increases Visa (NYSE:V) Price Target to $310.00

Visa (NYSE:V) had its target price hoisted by stock analysts at BMO Capital Markets from $300.00 to $310.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the credit-card processor’s stock. BMO Capital Markets’ target price would indicate a potential upside of 11.91% from the company’s current price.

A number of other research analysts have also issued reports on the company. TD Cowen dropped their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler dropped their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Visa Stock Down 0.2 %

V stock opened at $277.01 on Thursday. Visa has a 12 month low of $227.78 and a 12 month high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $506.63 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a fifty day moving average price of $272.17 and a 200 day moving average price of $273.10.

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

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of large investors have recently modified their holdings of the company. Czech National Bank raised its stake in shares of Visa by 13.4% in the 3rd quarter. Czech National Bank now owns 340,238 shares of the credit-card processor’s stock valued at $93,548,000 after acquiring an additional 40,268 shares during the period. JLB & Associates Inc. raised its position in Visa by 1.8% in the third quarter. JLB & Associates Inc. now owns 10,689 shares of the credit-card processor’s stock valued at $2,939,000 after purchasing an additional 194 shares during the period. Trust Co of the South lifted its stake in shares of Visa by 22.7% during the third quarter. Trust Co of the South now owns 5,235 shares of the credit-card processor’s stock worth $1,439,000 after purchasing an additional 967 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Visa by 0.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 163,644 shares of the credit-card processor’s stock worth $44,994,000 after buying an additional 839 shares during the period. Finally, Trust Co. of Toledo NA OH grew its stake in shares of Visa by 3.0% in the third quarter. Trust Co. of Toledo NA OH now owns 16,409 shares of the credit-card processor’s stock valued at $4,512,000 after buying an additional 483 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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.