Monness Crespi & Hardt Reiterates “Neutral” Rating for Visa (NYSE:V)

Visa (NYSE:V)‘s stock had its “neutral” rating reissued by stock analysts at Monness Crespi & Hardt in a research report issued to clients and investors on Tuesday, Benzinga reports.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Visa Price Performance

Shares of NYSE V opened at $269.84 on Tuesday. Visa has a twelve month low of $227.78 and a twelve month high of $293.07. The firm has a market cap of $491.73 billion, a P/E ratio of 30.13, a PEG ratio of 2.04 and a beta of 0.96. The company has a 50 day moving average of $271.12 and a 200 day moving average of $273.42. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. As a group, research analysts expect that Visa will post 9.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Institutional investors have recently bought and sold shares of the company. Hilltop National Bank purchased a new position in shares of Visa in the first quarter worth $1,212,000. Absolute Capital Management LLC purchased a new position in shares of Visa in the first quarter worth $404,000. Davidson Capital Management Inc. raised its holdings in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares during the last quarter. Finally, Arjuna Capital raised its holdings in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.