Piper Sandler Reaffirms Overweight Rating for Visa (NYSE:V)

Visa (NYSE:V)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $383.00 target price on the credit-card processor’s stock, up from their previous target price of $368.00. Piper Sandler’s target price points to a potential upside of 11.97% from the company’s previous close.

Several other brokerages also recently commented on V. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Mizuho increased their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley upped their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $352.85.

Visa Trading Down 0.3 %

NYSE V opened at $342.05 on Friday. Visa has a 12 month low of $252.70 and a 12 month high of $351.25. The stock has a 50-day simple moving average of $317.74 and a 200 day simple moving average of $293.27. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $637.19 billion, a PE ratio of 34.48, a P/E/G ratio of 2.30 and a beta of 0.97.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Research analysts forecast that Visa will post 11.2 EPS for the current year.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Visa

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC increased its position in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC increased its position in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Visa by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after buying an additional 670,590 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

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.