Macquarie Boosts Visa (NYSE:V) Price Target to $300.00

Visa (NYSE:V) had its price target raised by equities research analysts at Macquarie from $290.00 to $300.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the credit-card processor’s stock. Macquarie’s target price would indicate a potential upside of 9.03% from the company’s current price.

A number of other analysts also recently weighed in on the company. Wedbush lifted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer lifted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Finally, TD Cowen started coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $302.58.

Visa Trading Up 0.1 %

NYSE:V opened at $275.16 on Wednesday. The firm has a market cap of $505.33 billion, a P/E ratio of 30.74, a PEG ratio of 1.89 and a beta of 0.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock’s 50 day simple moving average is $279.32 and its 200-day simple moving average is $264.05. Visa has a 12-month low of $216.14 and a 12-month high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.72% and a net margin of 53.87%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 earnings per share. Equities analysts anticipate that Visa will post 9.88 EPS for the current year.

Insider Activity

In other news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold 18,965 shares of company stock worth $5,256,352 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Visa during the fourth quarter worth about $3,895,015,000. International Assets Investment Management LLC increased its stake in Visa by 17,418.7% during the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after acquiring an additional 4,710,188 shares during the last quarter. FMR LLC increased its stake in Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Visa during the third quarter worth about $358,349,000. Finally, Public Employees Retirement Association of Colorado increased its stake in Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after acquiring an additional 1,489,856 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.