Visa Inc. (V) Receives “Outperform” Rating from Cowen and Company
Visa Inc. (NYSE:V)‘s stock had its “outperform” rating restated by stock analysts at Cowen and Company in a research report issued to clients and investors on Tuesday. They currently have a $100.00 target price on the credit-card processor’s stock. Cowen and Company’s target price would indicate a potential upside of 21.73% from the stock’s previous close.
Several other equities research analysts have also issued reports on the company. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $83.12 price target for the company. in a report on Monday, August 8th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, July 19th. Barclays PLC reduced their price target on Visa from $90.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $90.00 price target on shares of Visa in a report on Friday, July 22nd. Finally, Jefferies Group reiterated a “buy” rating and set a $93.00 price target on shares of Visa in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $89.36.
Shares of Visa (NYSE:V) traded down 0.72% during mid-day trading on Tuesday, reaching $81.56. 8,860,952 shares of the company’s stock traded hands. Visa has a 1-year low of $66.12 and a 1-year high of $83.79. The company has a market capitalization of $192.48 billion, a P/E ratio of 34.66 and a beta of 0.95. The firm has a 50-day moving average price of $82.33 and a 200-day moving average price of $79.45.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/visa-inc-v-receives-outperform-rating-from-cowen-and-company.html
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Visa had a return on equity of 22.36% and a net margin of 38.72%. The firm earned $3.63 billion during the quarter, compared to analyst estimates of $3.67 billion. On average, equities research analysts forecast that Visa will post $2.79 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new position in Visa during the second quarter valued at $411,431,000. Bank of Montreal Can purchased a new position in Visa during the second quarter valued at $262,163,000. Findlay Park Partners LLP boosted its position in Visa by 107.9% in the first quarter. Findlay Park Partners LLP now owns 5,154,970 shares of the credit-card processor’s stock valued at $394,252,000 after buying an additional 2,676,011 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Visa by 4,373.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,713,844 shares of the credit-card processor’s stock valued at $131,075,000 after buying an additional 1,675,532 shares in the last quarter. Finally, Capital International Investors boosted its position in Visa by 19.7% in the second quarter. Capital International Investors now owns 9,156,501 shares of the credit-card processor’s stock valued at $679,138,000 after buying an additional 1,504,167 shares in the last quarter. Institutional investors own 80.06% of the company’s stock.
Visa Company Profile
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
Receive News & Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related companies with MarketBeat.com's FREE daily email newsletter.