Visa Inc. (V) Earns Outperform Rating from Cowen and Company
Visa Inc. (NYSE:V)‘s stock had its “outperform” rating reaffirmed by Cowen and Company in a research report issued to clients and investors on Saturday. They presently have a $107.00 price objective on the credit-card processor’s stock, up from their prior price objective of $105.00. Cowen and Company’s target price suggests a potential upside of 7.43% from the company’s current price.
Other analysts have also issued research reports about the company. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $95.32 price target for the company in a research note on Thursday, April 27th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $96.00) on shares of Visa in a research note on Tuesday, June 6th. Loop Capital raised their price target on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday. They noted that the move was a valuation call. Royal Bank Of Canada raised their price target on Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Finally, Deutsche Bank AG raised their price target on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $102.04.
Shares of Visa (NYSE V) traded up 1.52% on Friday, hitting $99.60. 17,400,234 shares of the stock were exchanged. The company has a market cap of $229.72 billion, a price-to-earnings ratio of 49.70 and a beta of 0.93. The company has a 50 day moving average of $95.30 and a 200 day moving average of $90.04. Visa has a 52-week low of $75.17 and a 52-week high of $100.49.
Visa (NYSE:V) last issued its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 31.04%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter last year, the business earned $0.69 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Equities research analysts forecast that Visa will post $3.37 earnings per share for the current year.
Visa announced that its board has approved a stock repurchase program on Thursday, April 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit-card processor to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In related news, Vice Chairman Ellen Richey sold 31,260 shares of Visa stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. boosted its position in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Mascoma Wealth Management LLC bought a new position in Visa during the second quarter worth $122,000. SpiderRock Advisors LLC boosted its position in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the last quarter. Advantage Investment Management LLC boosted its position in Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its position in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds 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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