Citigroup Issues Positive Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its price target raised by Citigroup from $319.00 to $326.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the credit-card processor’s stock.

V has been the topic of a number of other reports. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada raised their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Susquehanna increased their price objective on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.07.

Visa Stock Up 2.9 %

Shares of NYSE:V opened at $290.16 on Wednesday. The firm has a market capitalization of $530.68 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The business has a 50 day simple moving average of $280.09 and a two-hundred day simple moving average of $273.38. Visa has a 1 year low of $232.99 and a 1 year high of $295.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $2.33 EPS. On average, equities analysts predict that Visa will post 9.92 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Visa

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Donald L. Hagan LLC lifted its stake in Visa by 32.1% during the 3rd quarter. Donald L. Hagan LLC now owns 1,366 shares of the credit-card processor’s stock valued at $376,000 after acquiring an additional 332 shares during the period. Maia Wealth LLC raised its holdings in shares of Visa by 11.5% during the third quarter. Maia Wealth LLC now owns 9,109 shares of the credit-card processor’s stock worth $2,580,000 after purchasing an additional 943 shares during the last quarter. Umpqua Bank lifted its position in Visa by 2.2% during the third quarter. Umpqua Bank now owns 9,610 shares of the credit-card processor’s stock valued at $2,642,000 after purchasing an additional 208 shares during the period. Foster & Motley Inc. boosted its holdings in Visa by 81.3% in the third quarter. Foster & Motley Inc. now owns 10,301 shares of the credit-card processor’s stock valued at $2,832,000 after purchasing an additional 4,620 shares during the last quarter. Finally, Harvest Portfolios Group Inc. grew its position in Visa by 4.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 69,056 shares of the credit-card processor’s stock worth $18,987,000 after purchasing an additional 3,071 shares during the period. Institutional investors and hedge funds 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.