Visa (NYSE:V) Reaches New 1-Year High on Analyst Upgrade

Visa Inc. (NYSE:V) shares hit a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $322.00 to $368.00. Piper Sandler currently has an overweight rating on the stock. Visa traded as high as $331.30 and last traded at $329.68, with a volume of 399056 shares traded. The stock had previously closed at $330.20.

Several other research analysts have also commented on V. Citigroup lifted their price target on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Mizuho raised their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $335.52.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Visa

A number of institutional investors and hedge funds have recently bought and sold shares of V. Crescent Grove Advisors LLC raised its holdings in Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after acquiring an additional 31 shares during the last quarter. Phoenix Wealth Advisors grew its holdings in Visa by 3.4% in the 4th quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after buying an additional 32 shares during the period. Unionview LLC increased its stake in shares of Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after acquiring an additional 33 shares during the last quarter. Forza Wealth Management LLC lifted its holdings in shares of Visa by 2.9% during the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after acquiring an additional 33 shares during the period. Finally, Presilium Private Wealth LLC boosted its position in shares of Visa by 2.2% in the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock worth $475,000 after acquiring an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

The company’s 50 day moving average price is $314.95 and its 200-day moving average price is $290.79. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $622.49 billion, a PE ratio of 34.34, a PEG ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

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.