Visa (NYSE:V) Price Target Raised to $375.00 at Oppenheimer

Visa (NYSE:V) had its price objective boosted by investment analysts at Oppenheimer from $321.00 to $375.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the credit-card processor’s stock. Oppenheimer’s price objective points to a potential upside of 18.90% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. TD Cowen upped their target price on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $328.41.

Visa Stock Performance

Shares of NYSE V traded up $5.62 during trading on Thursday, hitting $315.40. The company had a trading volume of 2,515,387 shares, compared to its average volume of 6,887,689. The stock has a 50 day simple moving average of $301.66 and a 200 day simple moving average of $281.98. The firm has a market capitalization of $587.55 billion, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa has a 12 month low of $252.70 and a 12 month high of $321.61.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that Visa will post 11.23 earnings per share for the current year.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

Institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in shares of 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 buying an additional 3,327,977 shares in the last quarter. FMR LLC grew its position in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC increased its holdings in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after buying an additional 312,286 shares during the period. Institutional investors 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.