TD Cowen Initiates Coverage on Visa (NYSE:V)

Investment analysts at TD Cowen initiated coverage on shares of Visa (NYSE:V) in a research note issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $320.00 price target on the credit-card processor’s stock. TD Cowen’s target price suggests a potential upside of 15.96% from the stock’s previous close.

Several other research analysts also recently issued reports on V. Royal Bank of Canada boosted their price objective on shares of Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Citigroup boosted their price objective on shares of Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Wedbush boosted their price objective on shares of Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. William Blair reissued an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Finally, Evercore ISI upped their target price on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.87.

Visa Stock Up 0.1 %

Visa stock opened at $275.96 on Thursday. The firm has a market cap of $506.80 billion, a price-to-earnings ratio of 31.76, a P/E/G ratio of 1.90 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The firm has a fifty day moving average price of $280.13 and a two-hundred day moving average price of $261.47.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Visa will post 9.89 earnings per share for the current year.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold 55,511 shares of company stock worth $15,131,081 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in V. Vanguard Group Inc. lifted its stake in Visa by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 141,413,922 shares of the credit-card processor’s stock valued at $36,817,115,000 after acquiring an additional 361,254 shares during the last quarter. State Street Corp lifted its stake in Visa by 3.7% in the first quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock valued at $16,435,339,000 after acquiring an additional 2,572,159 shares during the last quarter. Morgan Stanley lifted its stake in Visa by 13.0% in the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares during the last quarter. FMR LLC lifted its stake in shares of Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after buying an additional 2,257,605 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in shares of Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after buying an additional 24,483,134 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.