BMO Capital Markets Increases Visa (NYSE:V) Price Target to $310.00

Visa (NYSE:V) had its target price increased by equities research analysts at BMO Capital Markets from $300.00 to $310.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the credit-card processor’s stock. BMO Capital Markets’ target price suggests a potential upside of 11.55% from the company’s previous close.

V has been the topic of several other research reports. TD Cowen lowered their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada cut their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Stock Up 0.4 %

Shares of V opened at $277.89 on Thursday. The stock has a 50 day moving average price of $273.00 and a 200 day moving average price of $273.07. Visa has a one year low of $228.03 and a one year high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $506.40 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS. Equities research analysts forecast that Visa will post 9.92 earnings per share for the current fiscal year.

Insider Activity at Visa

In related 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 transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares in the last quarter. Capital International Investors grew its holdings in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors increased its position in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. raised its position in Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.