Citigroup Boosts Visa (NYSE:V) Price Target to $321.00

Visa (NYSE:V) had its price target increased by research analysts at Citigroup from $314.00 to $321.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the credit-card processor’s stock. Citigroup’s target price indicates a potential upside of 15.93% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Oppenheimer upped their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday. William Blair restated an “outperform” rating on shares of Visa in a report on Friday, January 26th. Susquehanna upped their target price on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Robert W. Baird upped their target price on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.00.

Visa Stock Up 1.0 %

Shares of NYSE V traded up $2.78 during trading on Wednesday, hitting $276.89. 3,749,273 shares of the company traded hands, compared to its average volume of 5,848,722. The business’s fifty day moving average is $279.49 and its 200 day moving average is $263.90. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The firm has a market capitalization of $508.51 billion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.92% and a return on equity of 50.02%. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that Visa will post 9.88 earnings per share for the current fiscal year.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,965 shares of company stock worth $5,256,352. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently modified their holdings of the stock. Westend Capital Management LLC purchased a new stake in Visa during the first quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter valued at $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Visa in the third quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the fourth quarter valued at $32,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at $33,000. Institutional investors own 82.15% of the company’s stock.

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.