Mizuho Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price objective upped by Mizuho from $279.00 to $292.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the credit-card processor’s stock. Mizuho’s price target points to a potential upside of 0.43% from the company’s current price.

A number of other brokerages also recently issued reports on V. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Citigroup boosted their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.70.

Visa Price Performance

NYSE V opened at $290.74 on Friday. The company has a market cap of $529.82 billion, a PE ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. Visa has a 52-week low of $239.20 and a 52-week high of $296.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The firm’s 50 day moving average price is $281.00 and its 200-day moving average price is $273.65.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Visa will post 11.17 EPS for the current fiscal year.

Insider Buying and Selling at Visa

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

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 position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa during the third quarter worth $31,000. TruNorth Capital Management LLC grew its stake in shares of 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 in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in shares of Visa in the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

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.