Visa Inc. (NYSE:V) PT Raised to $120.00 at Instinet
Visa Inc. (NYSE:V) had its price objective lifted by equities researchers at Instinet from $105.00 to $120.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the credit-card processor’s stock. Instinet’s price objective would suggest a potential upside of 22.31% from the company’s previous close.
A number of other analysts also recently weighed in on the stock. Jefferies Group LLC set a $96.00 target price on shares of Visa and gave the stock a “buy” rating in a research report on Saturday, March 25th. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 target price on the stock in a research report on Tuesday, June 27th. Loop Capital upped their target price on shares of Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Royal Bank Of Canada upped their target price on shares of Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 target price (up from $100.00) on shares of Visa in a research report on Sunday, April 23rd. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $101.29.
Shares of Visa (NYSE:V) traded up 2.15% on Friday, reaching $100.22. 5,234,621 shares of the company traded hands. Visa has a one year low of $75.17 and a one year high of $100.49. The stock has a market capitalization of $231.15 billion, a P/E ratio of 50.01 and a beta of 0.93. The stock’s 50 day moving average price is $95.30 and its 200-day moving average price is $90.04.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a net margin of 28.78% and a return on equity of 29.14%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. Equities analysts forecast that Visa will post $3.37 earnings per share for the current fiscal year.
Visa announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit-card processor to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total transaction of $2,874,044.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in Visa by 441.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,594,500 shares of the credit-card processor’s stock worth $202,423,000 after buying an additional 2,115,700 shares in the last quarter. Oribel Capital Management LP purchased a new position in Visa during the fourth quarter worth approximately $1,171,000. Ally Financial Inc. purchased a new position in Visa during the fourth quarter worth approximately $4,135,000. Davis Capital Partners LLC purchased a new position in Visa during the fourth quarter worth approximately $31,208,000. Finally, Texas Yale Capital Corp. increased its position in Visa by 137.1% in the fourth quarter. Texas Yale Capital Corp. now owns 18,879 shares of the credit-card processor’s stock worth $1,473,000 after buying an additional 10,915 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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