Truist Financial Issues Pessimistic Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its target price lowered by equities research analysts at Truist Financial from $372.00 to $361.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the credit-card processor’s stock. Truist Financial’s price objective would indicate a potential upside of 17.50% from the company’s previous close.

A number of other analysts have also recently weighed in on V. Cantor Fitzgerald raised Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. TD Cowen reissued a “buy” rating on shares of Visa in a report on Friday, January 30th. Piper Sandler set a $160.00 price target on Visa in a research note on Wednesday, January 28th. Citigroup decreased their price target on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, UBS Group lowered their price objective on shares of Visa from $425.00 to $390.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Seven research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $387.79.

Visa Stock Performance

Shares of NYSE:V traded down $1.64 on Friday, reaching $307.24. The company’s stock had a trading volume of 1,674,836 shares, compared to its average volume of 7,633,273. Visa has a 52-week low of $293.89 and a 52-week high of $375.51. The stock has a market capitalization of $557.69 billion, a P/E ratio of 28.79, a PEG ratio of 1.79 and a beta of 0.80. The stock’s 50-day moving average is $309.97 and its two-hundred day moving average is $328.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company posted $2.75 earnings per share. As a group, sell-side analysts forecast that Visa will post 12.84 EPS for the current year.

Insider Activity

In other news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the sale, the director directly owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in V. Vanguard Group Inc. grew its stake in Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares during the period. State Street Corp raised its holdings in Visa by 0.8% in the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock valued at $29,038,140,000 after acquiring an additional 626,821 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Visa by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after purchasing an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after purchasing an additional 716,218 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Visa by 0.8% during the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after purchasing an additional 193,288 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.