Visa (NYSE:V) PT Raised to $299.00 at Oppenheimer

Visa (NYSE:V) had its price objective hoisted by equities research analysts at Oppenheimer from $297.00 to $299.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the credit-card processor’s stock. Oppenheimer’s price objective would indicate a potential upside of 9.03% from the stock’s previous close.

Several other research firms have also issued reports on V. Barclays upped their price objective on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Citigroup increased their target price on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Keefe, Bruyette & Woods increased their target price on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. KeyCorp increased their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. Finally, Susquehanna increased their target price on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research note on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $300.48.

Visa Stock Performance

Shares of NYSE V opened at $274.23 on Wednesday. The stock has a 50 day moving average price of $279.49 and a 200 day moving average price of $263.90. Visa has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $503.63 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating the consensus estimate of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts predict that Visa will post 9.88 earnings per share for the current fiscal year.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated 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 owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,965 shares of company stock valued at $5,256,352. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in shares of Visa in the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new stake in Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new stake in Visa during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in Visa during the 4th quarter valued at $32,000. Finally, Nalls Sherbakoff Group LLC raised its holdings in Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after acquiring an additional 120 shares during the period. Hedge funds and other 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.