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

Visa (NYSE:V) had its price objective lifted by investment analysts at Citigroup from $319.00 to $326.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the credit-card processor’s stock. Citigroup’s price target suggests a potential upside of 11.96% from the stock’s previous close.

Other analysts also recently issued reports about the company. Robert W. Baird increased their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $318.78.

Visa Stock Up 3.3 %

Shares of Visa stock traded up $9.29 during midday trading on Wednesday, hitting $291.17. The company had a trading volume of 5,988,042 shares, compared to its average volume of 7,056,153. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $532.53 billion, a P/E ratio of 32.51, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a 50 day moving average of $279.65 and a 200 day moving average of $273.26. Visa has a 52-week low of $232.99 and a 52-week high of $295.78.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping 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 firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 EPS. On average, equities analysts predict that Visa will post 9.92 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Institutional investors have recently bought and sold shares of the business. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC purchased a new position in shares of Visa in the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa in the second quarter valued at $35,000. 82.15% of the stock is currently owned by hedge funds and other 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.