Visa (NYSE:V) Sets New 52-Week High Following Analyst Upgrade

Visa Inc. (NYSE:V) shares hit a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $322.00 to $368.00. Piper Sandler currently has an overweight rating on the stock. Visa traded as high as $331.30 and last traded at $329.68, with a volume of 399056 shares. The stock had previously closed at $330.20.

Several other brokerages have also commented on V. BMO Capital Markets boosted their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Jefferies Financial Group increased their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price target on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $335.52.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were 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 directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Visa

A number of hedge funds and other institutional investors have recently bought and sold shares of V. Custom Index Systems LLC acquired a new stake in shares of Visa in the third quarter valued at about $731,000. Copley Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth approximately $616,000. Oak Ridge Investments LLC raised its stake in shares of Visa by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after purchasing an additional 4,198 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $7,987,000. Finally, Chicago Capital LLC grew its stake in shares of Visa by 5.2% in 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 in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $315.39 and its two-hundred day moving average is $291.29. The firm has a market capitalization of $623.69 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. 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 prior year, the firm earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

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.