Visa (NYSE:V) Price Target Raised to $308.00 at Bank of America

Visa (NYSE:V) had its target price lifted by research analysts at Bank of America from $279.00 to $308.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the credit-card processor’s stock. Bank of America‘s price target points to a potential upside of 5.48% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler decreased their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Morgan Stanley decreased their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Up 0.5 %

Shares of V traded up $1.51 during mid-day trading on Tuesday, hitting $291.99. The company’s stock had a trading volume of 1,977,773 shares, compared to its average volume of 7,060,237. The company’s 50-day moving average is $268.78 and its 200-day moving average is $273.21. Visa has a 52-week low of $227.78 and a 52-week high of $293.07. The firm has a market capitalization of $534.03 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.01 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% 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. Hilltop National Bank acquired a new position in Visa during the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC acquired a new position in shares of Visa in the 1st quarter valued at $404,000. SageView Advisory Group LLC boosted its holdings in shares of Visa by 40.4% in the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after buying an additional 7,236 shares in the last quarter. Davidson Capital Management Inc. boosted its holdings in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares in the last quarter. Institutional investors and hedge funds 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.