Macquarie Raises Visa (NYSE:V) Price Target to $335.00

Visa (NYSE:V) had its price objective hoisted by Macquarie from $300.00 to $335.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

A number of other analysts also recently issued reports on V. Citigroup raised their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Jefferies Financial Group boosted their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $320.07.

Visa Trading Up 2.9 %

NYSE:V opened at $290.16 on Wednesday. Visa has a 52 week low of $232.99 and a 52 week high of $295.78. The firm has a 50-day moving average price of $280.09 and a two-hundred day moving average price of $273.38. The firm 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 company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company posted $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Visa will post 9.92 earnings per share for the current fiscal year.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Visa

Institutional investors have recently modified their holdings of the company. POM Investment Strategies LLC boosted its stake in Visa by 970.0% in 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 in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa during the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa in the 2nd quarter worth $35,000. 82.15% of the stock is currently owned by institutional investors.

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.