Wedbush Increases Visa (NYSE:V) Price Target to $300.00

Visa (NYSE:V) had its price objective upped by equities research analysts at Wedbush from $280.00 to $300.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the credit-card processor’s stock. Wedbush’s price target points to a potential upside of 9.03% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Visa in a research note on Friday, January 26th. TD Cowen began coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Redburn Atlantic restated a “neutral” rating and set a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. 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 report on Wednesday, March 6th. Finally, Robert W. Baird lifted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Price Performance

V opened at $275.16 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40. Visa has a 52-week low of $216.14 and a 52-week high of $290.96. The stock has a market capitalization of $505.33 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The stock’s 50 day moving average price is $279.32 and its 200-day moving average price is $264.05.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Visa will post 9.89 EPS for the current year.

Insider Activity at Visa

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 transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,965 shares of company stock worth $5,256,352. 0.19% of the stock is owned by insiders.

Institutional Trading of Visa

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new stake in Visa in the third quarter worth about $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the fourth quarter worth about $32,000. Finally, Nalls Sherbakoff Group LLC boosted its stake in shares of Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.