Citigroup Raises Visa (NYSE:V) Price Target to $326.00

Visa (NYSE:V) had its price target raised by equities research analysts at Citigroup from $319.00 to $326.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the credit-card processor’s stock. Citigroup’s price objective indicates a potential upside of 12.46% from the company’s previous close.

A number of other research analysts also recently issued reports on V. Oppenheimer restated an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Compass Point started coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.07.

Visa Trading Down 0.1 %

V opened at $289.89 on Wednesday. The company’s 50 day moving average is $280.53 and its 200-day moving average is $273.50. Visa has a 1-year low of $232.99 and a 1-year high of $296.34. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $530.19 billion, a P/E ratio of 32.39, a PEG ratio of 1.95 and a beta of 0.96.

Visa (NYSE:V) last posted its 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 net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Visa will post 9.92 earnings per share for the current fiscal year.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Hedge funds have recently modified their holdings of the company. Mine & Arao Wealth Creation & Management LLC. increased its stake in Visa by 6.7% in the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 13,725 shares of the credit-card processor’s stock worth $3,774,000 after purchasing an additional 860 shares during the period. Trinity Legacy Partners LLC boosted its position in Visa by 2.3% during the third quarter. Trinity Legacy Partners LLC now owns 18,066 shares of the credit-card processor’s stock valued at $5,071,000 after purchasing an additional 412 shares in the last quarter. Mainstream Capital Management LLC bought a new stake in Visa during the third quarter valued at about $937,000. Portside Wealth Group LLC boosted its position in Visa by 2.5% during the third quarter. Portside Wealth Group LLC now owns 35,869 shares of the credit-card processor’s stock valued at $9,862,000 after purchasing an additional 867 shares in the last quarter. Finally, Keynote Financial Services LLC boosted its holdings in Visa by 10.0% in the third quarter. Keynote Financial Services LLC now owns 933 shares of the credit-card processor’s stock worth $257,000 after acquiring an additional 85 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.