Visa Inc. (NYSE:V) Upgraded by BidaskClub to Strong-Buy
Visa Inc. (NYSE:V) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.
Several other brokerages have also commented on V. Citigroup Inc. restated a “buy” rating and set a $115.00 target price (up previously from $100.00) on shares of Visa in a research report on Monday. Bank of America Corporation increased their price target on Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a report on Friday. Barclays PLC reiterated an “overweight” rating and issued a $114.00 price target (up previously from $111.00) on shares of Visa in a report on Saturday. Wells Fargo & Company reiterated a “market perform” rating and issued a $100.00 price target (up previously from $87.50) on shares of Visa in a report on Saturday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $114.00 price target (up previously from $107.00) on shares of Visa in a report on Saturday. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $103.87.
Shares of Visa (NYSE V) traded down 0.059% during trading on Tuesday, reaching $100.311. The company’s stock had a trading volume of 4,272,268 shares. Visa has a 12 month low of $75.17 and a 12 month high of $100.85. The firm has a market cap of $229.35 billion, a PE ratio of 37.304 and a beta of 0.93. The company’s 50 day moving average price is $95.54 and its 200 day moving average price is $90.40.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. On average, equities analysts predict that Visa will post $3.42 earnings per share for the current year.
Visa announced that its Board of Directors has approved a share repurchase program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Institutional investors have recently added to or reduced their stakes in the stock. Ngam Advisors L.P. boosted its position in Visa by 7.4% in the second quarter. Ngam Advisors L.P. now owns 1,131,493 shares of the credit-card processor’s stock valued at $83,923,000 after buying an additional 78,447 shares during the period. Jennison Associates boosted its position in Visa by 21.6% in the third quarter. Jennison Associates now owns 28,055,431 shares of the credit-card processor’s stock valued at $1,954,341,000 after buying an additional 4,977,221 shares during the period. JPMorgan Chase & Co. boosted its position in Visa by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 29,495,466 shares of the credit-card processor’s stock valued at $2,441,561,000 after buying an additional 1,061,427 shares during the period. Schnieders Capital Management LLC boosted its position in Visa by 5.6% in the fourth quarter. Schnieders Capital Management LLC now owns 19,858 shares of the credit-card processor’s stock valued at $1,540,000 after buying an additional 1,060 shares during the period. Finally, Torch Wealth Management LLC boosted its position in Visa by 4.3% in the fourth quarter. Torch Wealth Management LLC now owns 36,142 shares of the credit-card processor’s stock valued at $2,803,000 after buying an additional 1,500 shares during the period. 82.02% of the stock is currently owned by institutional investors and hedge funds.
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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