Visa (NYSE:V) Stock Price Up 3.5% After Strong Earnings

Visa Inc. (NYSE:V)’s share price traded up 3.5% on Wednesday following a better than expected earnings announcement. The company traded as high as $295.78 and last traded at $291.74. 3,224,090 shares were traded during trading, a decline of 54% from the average session volume of 7,044,292 shares. The stock had previously closed at $281.88.

The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the business posted $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $320.07.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several hedge funds and other institutional investors have recently added to or reduced their stakes in V. POM Investment Strategies LLC boosted its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new position in Visa in the third quarter worth about $31,000. TruNorth Capital Management LLC increased its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new stake in Visa during the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 2.9 %

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $530.68 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The firm has a 50-day moving average price of $280.09 and a 200 day moving average price of $273.38.

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.