Visa (NYSE:V) Given New $330.00 Price Target at Evercore ISI

Visa (NYSE:VGet Free Report) had its price objective decreased by stock analysts at Evercore ISI from $335.00 to $330.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the credit-card processor’s stock. Evercore ISI’s target price would suggest a potential upside of 19.96% from the stock’s previous close.

V has been the subject of a number of other reports. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Oppenheimer boosted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Wedbush boosted their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. UBS Group boosted their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company boosted their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $303.56.

Check Out Our Latest Stock Analysis on Visa

Visa Stock Performance

Shares of Visa stock traded down $1.21 on Tuesday, reaching $275.09. 2,408,365 shares of the stock were exchanged, compared to its average volume of 6,530,798. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa has a twelve month low of $226.02 and a twelve month high of $290.96. The firm has a market capitalization of $503.12 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.88 and a beta of 0.97. The business has a 50 day moving average price of $274.07 and a two-hundred day moving average price of $273.29.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Visa will post 9.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,402 shares of company stock valued at $9,559,382. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors lifted its holdings in shares of Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors lifted its holdings in shares of Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Norges Bank acquired a new stake in shares of Visa in the 4th quarter valued at approximately $3,895,015,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after buying an additional 374,489 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

(Get Free Report)

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.

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