Visa (NYSE:V) Given New $322.00 Price Target at Morgan Stanley

Visa (NYSE:V) had its target price lowered by analysts at Morgan Stanley from $326.00 to $322.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the credit-card processor’s stock. Morgan Stanley’s target price suggests a potential upside of 26.85% from the stock’s previous close.

Several other brokerages have also recently issued reports on V. Macquarie lifted their price objective on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Wedbush boosted their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Mizuho raised their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Citigroup lifted their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Oppenheimer raised their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $304.77.

Visa Trading Down 0.1 %

NYSE V opened at $253.84 on Wednesday. Visa has a one year low of $227.68 and a one year high of $290.96. The firm has a 50 day simple moving average of $270.45 and a 200-day simple moving average of $274.25. The firm has a market cap of $464.26 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.85 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS 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 52.04%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Equities research analysts anticipate that Visa will post 9.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Institutional Trading of Visa

Several hedge funds have recently modified their holdings of the business. Westend Capital Management LLC acquired a new stake in Visa in the first quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter worth about $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. O Brien Wealth Partners LLC purchased a new position in Visa in the fourth quarter valued at about $32,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the 4th quarter valued at approximately $33,000. 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.