Wells Fargo & Company Issues Positive Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its target price hoisted by equities researchers at Wells Fargo & Company from $325.00 to $360.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the credit-card processor’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 14.32% from the company’s previous close.

V has been the topic of several other reports. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Macquarie boosted their price objective 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. Barclays raised their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Morgan Stanley increased their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Susquehanna lifted their price objective on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $329.70.

Visa Stock Performance

Visa stock opened at $314.91 on Friday. The stock has a market cap of $586.64 billion, a PE ratio of 32.36, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa has a 12-month low of $252.70 and a 12-month high of $321.61. The business’s 50-day moving average price is $309.73 and its two-hundred day moving average price is $285.59.

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visa

Several hedge funds have recently bought and sold shares of V. Custom Index Systems LLC bought a new position in Visa during the third quarter valued at approximately $731,000. Copley Financial Group Inc. purchased a new position in Visa in the 3rd quarter worth $616,000. FORA Capital LLC bought a new stake in Visa in the third quarter worth $7,987,000. Chicago Capital LLC boosted its position in Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC grew its stake in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after buying an additional 55,273 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.