Piper Sandler Reiterates “Overweight” Rating for Visa (NYSE:V)

Visa (NYSE:V)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $383.00 target price on the credit-card processor’s stock, up from their prior target price of $368.00. Piper Sandler’s price objective points to a potential upside of 11.97% from the stock’s previous close.

Several other analysts have also recently commented on V. Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup upped their price objective on shares of Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their target price on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Raymond James reaffirmed an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday. Finally, TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $352.85.

Visa Trading Down 0.3 %

NYSE V opened at $342.05 on Friday. The company has a market capitalization of $637.19 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. Visa has a 12 month low of $252.70 and a 12 month high of $351.25. The company’s fifty day moving average price is $317.74 and its two-hundred day moving average price is $293.27.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, research analysts predict that Visa will post 11.2 earnings per share for the current fiscal year.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Visa

A number of hedge funds have recently made changes to their positions in V. State Street Corp lifted its position in Visa by 4.5% during the 3rd 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 lifted its position in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Visa by 7.7% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after buying an additional 670,590 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.