TD Cowen Issues Positive Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its price objective raised by TD Cowen from $318.00 to $325.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the credit-card processor’s stock.

Other equities analysts have also issued reports about the stock. Compass Point began coverage on shares of Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Macquarie reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Visa in a report on Friday, September 27th. Morgan Stanley boosted their price target on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.07.

Visa Stock Performance

NYSE V opened at $290.16 on Wednesday. The firm has a market cap of $530.68 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96. Visa has a 52-week low of $232.99 and a 52-week high of $295.78. The business’s 50-day moving average price is $280.09 and its 200 day moving average price is $273.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. On average, equities research analysts expect that Visa will post 9.92 earnings per share for the current year.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI boosted its holdings in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new position in Visa in the first quarter valued at $511,321,000. Finally, GQG Partners LLC increased its stake in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. 82.15% of the stock is 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.