Vetr Inc. Downgrades Visa Inc. (V) to Sell
Visa Inc. (NYSE:V) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a research note issued on Thursday. They presently have a $101.08 price objective on the credit-card processor’s stock. Vetr‘s price objective would indicate a potential downside of 3.21% from the stock’s previous close.
Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Monday, May 29th. Deutsche Bank AG raised their price target on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective (up from $96.00) on shares of Visa in a report on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $104.00 price objective on shares of Visa in a report on Sunday, June 25th. Finally, BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $104.77.
Shares of Visa (NYSE V) traded down 0.12% during midday trading on Thursday, hitting $104.43. 5,787,188 shares of the stock were exchanged. The stock’s 50 day moving average is $101.98 and its 200 day moving average is $94.58. Visa has a 12-month low of $75.17 and a 12-month high of $105.44. The firm has a market cap of $238.77 billion, a P/E ratio of 38.84 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly 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. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. On average, equities research analysts forecast that Visa will post $3.42 earnings per share for the current fiscal year.
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In related news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Mercer Capital Advisers Inc. grew its holdings in Visa by 2.2% during the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after purchasing an additional 25 shares during the period. Motco grew its holdings in Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after purchasing an additional 236 shares during the period. BDO Wealth Advisors LLC acquired a new position in Visa during the second quarter valued at approximately $115,000. Mascoma Wealth Management LLC acquired a new position in Visa during the second quarter valued at approximately $122,000. Finally, SpiderRock Advisors LLC grew its holdings in Visa by 107.1% during the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after purchasing an additional 19,709 shares during the period. Hedge funds and other institutional investors own 81.74% 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.
To view Vetr’s full report, visit Vetr’s official website.
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