Wedbush Raises Visa (NYSE:V) Price Target to $215.00

Visa (NYSE:V) had its target price raised by research analysts at Wedbush from $195.00 to $215.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the credit-card processor’s stock. Wedbush’s target price points to a potential upside of 7.61% from the stock’s previous close. Wedbush also issued estimates for Visa’s Q1 2021 earnings at $1.70 EPS, Q2 2021 earnings at $1.70 EPS, Q3 2021 earnings at $1.82 EPS, Q4 2021 earnings at $1.95 EPS and FY2021 earnings at $7.16 EPS.

A number of other research analysts have also recently commented on the stock. Nomura upped their price target on shares of Visa from to and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets upped their price target on shares of Visa from $231.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Jefferies Financial Group set a $210.00 price target on shares of Visa and gave the stock a “buy” rating in a report on Friday, October 25th. Compass Point began coverage on shares of Visa in a report on Thursday, December 5th. They issued a “buy” rating on the stock. Finally, Raymond James upped their price target on shares of Visa from $193.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $204.58.

V stock opened at $199.80 on Tuesday. The firm’s fifty day simple moving average is $187.32 and its two-hundred day simple moving average is $180.29. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $385.85 billion, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. Visa has a twelve month low of $133.30 and a twelve month high of $200.15.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.04. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Visa had a net margin of 52.57% and a return on equity of 42.57%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. As a group, equities research analysts expect that Visa will post 6.2 EPS for the current year.

In other Visa news, EVP William M. Sheedy sold 3,110 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $182.52, for a total transaction of $567,637.20. Following the completion of the sale, the executive vice president now directly owns 227,740 shares of the company’s stock, valued at $41,567,104.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William M. Sheedy sold 21,164 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the sale, the executive vice president now directly owns 227,126 shares of the company’s stock, valued at $40,589,687.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,480 shares of company stock valued at $10,606,182. 0.17% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in V. Vanguard Group Inc. increased its holdings in shares of Visa by 1.1% during the second quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock valued at $25,507,824,000 after acquiring an additional 1,615,505 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Visa by 2.3% during the second quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after acquiring an additional 2,773,330 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Visa by 0.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 78,658,915 shares of the credit-card processor’s stock valued at $13,651,254,000 after acquiring an additional 379,577 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Visa by 2.1% during the third quarter. Fisher Asset Management LLC now owns 20,200,734 shares of the credit-card processor’s stock valued at $3,474,728,000 after acquiring an additional 419,991 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Visa by 3,715.7% during the second quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock valued at $2,827,471,000 after acquiring an additional 15,864,991 shares in the last quarter. 81.08% of the stock is owned by institutional investors and hedge funds.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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