Share on StockTwits

Visa (NYSE:V)‘s stock had its “outperform” rating reaffirmed by Zacks in a report released on Wednesday. They currently have a $2.25 price objective on the stock. Zacks‘s target price would suggest a potential downside of 98.93% from the stock’s previous close.

Zacks’ analyst wrote, “Little known Toronto, Canada-based Cynapsus Therapeutics is one of our best ideas for investment in the small-cap biotechnology sector. The company currently trades with a market capitalization of only $75 million, yet sits on a potential $750 million drug for the treatment of Parkinson’s disease. The leading drug is APL-130277, a sublingual formulation of apomorphine, designed as a rescue medication for patients experiencing “off” time in-between their daily levodopa dosing. We like Cynapsus because the costs and risks to develop APL-130277 are low, and the exit strategy is clear – develop APL-130277 to the point where a new drug application (NDA) can be filed, and then sell the company to a larger pharmaceutical looking to commercial. Based on the data and market research that we have seen, Cynapsus shares offer a potential six-fold increase in returns.”

Visa (NYSE:V) traded up 0.73% during mid-day trading on Wednesday, hitting $211.43. 1,612,787 shares of the company’s stock traded hands. Visa has a 52 week low of $172.21 and a 52 week high of $235.50. The stock has a 50-day moving average of $214.6 and a 200-day moving average of $214.6. The company has a market cap of $132.8 billion and a P/E ratio of 24.01.

Visa (NYSE:V) last announced its earnings results on Thursday, July 24th. The company reported $2.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.10 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company posted $1.88 earnings per share. Visa’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Visa will post $8.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 3rd. Investors of record on Friday, August 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Wednesday, August 13th.

Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Visa in a research note on Wednesday. They now have a $243.00 price target on the stock, up previously from $237.00. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Visa in a research note on Friday, July 25th. They now have a $281.00 price target on the stock, down previously from $289.00. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $235.54.

Visa Inc (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and electronic payments.

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.