Visa (NYSE:V) Given New $380.00 Price Target at BMO Capital Markets

Visa (NYSE:V) had its target price increased by equities researchers at BMO Capital Markets from $370.00 to $380.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the credit-card processor’s stock. BMO Capital Markets’ price target would indicate a potential upside of 10.98% from the stock’s previous close.

Several other research firms have also commented on V. JPMorgan Chase & Co. boosted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group cut their price target on Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given 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 target price of $362.38.

Visa Stock Down 0.9 %

Shares of NYSE V opened at $342.40 on Wednesday. The stock has a 50 day moving average price of $337.69 and a 200 day moving average price of $324.10. The firm has a market capitalization of $636.11 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.33 and a beta of 0.94. Visa has a 52-week low of $252.70 and a 52-week high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.51 EPS. Sell-side analysts expect that Visa will post 11.3 earnings per share for the current year.

Insider Buying and Selling at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,205 shares of company stock worth $48,842,490. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors increased its stake in shares of Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after purchasing an additional 866,596 shares in the last quarter. Capital World Investors raised its position in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after purchasing an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Hedge funds and other 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.