Visa Inc. (V) Upgraded to “Buy” at Zacks Investment Research
Visa Inc. (NYSE:V) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $117.00 price objective on the credit-card processor’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.00% from the company’s current price.
According to Zacks, “Shares of Visa have outperformed the industry, year to date. Numerous strategic acquisitions and alliances, technology upgrades and effective marketing have paved the way for the company's long-term growth. Visa is well poised to gain from the growing electronic payment processing and strong international business. A solid balance sheet position ensures effective capital deployment. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 1.8% upward over the last 60 days.”
A number of other brokerages have also weighed in on V. Vetr lowered shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price target for the company. in a research note on Monday, June 5th. BidaskClub lowered shares of Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. UBS AG reaffirmed an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Credit Suisse Group set a $112.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Finally, Sandler O’Neill reaffirmed a “hold” rating on shares of Visa in a research note on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $105.52.
Shares of Visa (V) traded up 0.55% during midday trading on Tuesday, reaching $105.41. 9,736,983 shares of the company were exchanged. The company’s 50-day moving average price is $102.98 and its 200 day moving average price is $95.43. Visa has a 52-week low of $75.17 and a 52-week high of $106.84. The stock has a market capitalization of $241.01 billion, a price-to-earnings ratio of 39.20 and a beta of 0.94.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 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 30.95%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. Visa’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities analysts predict that Visa will post $3.43 earnings per share for the current year.
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In other Visa news, Director Mary B. Cranston sold 10,400 shares of the company’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 value of $1,074,528.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the company’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 completion of the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Visa during the 2nd quarter worth $958,000. Mercer Capital Advisers Inc. increased its stake in shares of Visa by 2.2% during the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after purchasing an additional 25 shares during the last quarter. Motco increased its stake in shares of Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Visa during the 2nd quarter worth $123,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of Visa during the 2nd quarter worth $115,000. Institutional investors own 81.68% 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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