The Goldman Sachs Group Boosts Visa (NYSE:V) Price Target to $384.00

Visa (NYSE:V) had its target price raised by analysts at The Goldman Sachs Group from $346.00 to $384.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the credit-card processor’s stock. The Goldman Sachs Group’s target price points to a potential upside of 12.27% from the stock’s current price.

V has been the topic of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on shares of Visa from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Friday. Mizuho lifted their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler lifted their price target on Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, TD Cowen lifted their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $352.27.

Visa Stock Performance

NYSE:V opened at $342.05 on Friday. The stock has a market cap of $637.19 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The firm’s fifty day simple moving average is $317.74 and its 200 day simple moving average is $292.96. Visa has a twelve month low of $252.70 and a twelve month high of $351.25. 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 (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. As a group, research analysts predict that Visa will post 11.18 EPS for the current year.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in Visa by 4.5% in 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 purchasing an additional 3,327,977 shares during the period. FMR LLC grew its position in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Visa by 1.1% during 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 buying an additional 123,927 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of 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. 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.