Morgan Stanley Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price target boosted by Morgan Stanley from $322.00 to $326.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the credit-card processor’s stock.

A number of other research firms also recently issued reports on V. Macquarie reiterated an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Friday, September 27th. Royal Bank of Canada reduced their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, BMO Capital Markets increased their price objective on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Four investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $320.07.

Visa Stock Up 2.9 %

Visa stock opened at $290.16 on Wednesday. The stock’s 50 day moving average price is $280.09 and its 200 day moving average price is $273.38. Visa has a 1-year low of $232.99 and a 1-year high of $295.78. The company has a market cap of $530.68 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

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 analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the company posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that Visa will post 9.92 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value 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 link. Insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Institutional investors have recently added to or reduced their stakes in the stock. POM Investment Strategies LLC lifted its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Visa during the third quarter valued at approximately $31,000. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Visa in the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the 2nd quarter worth approximately $35,000. 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.