Visa (NYSE:V) Receives “Neutral” Rating from Bank of America

Visa (NYSE:V)‘s stock had its “neutral” rating reissued by stock analysts at Bank of America in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $297.00 price objective on the credit-card processor’s stock, down from their prior price objective of $305.00. Bank of America‘s price target suggests a potential upside of 13.12% from the company’s current price.

Several other research analysts also recently commented on the stock. Robert W. Baird raised their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Piper Sandler started coverage on shares of Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective on the stock. Wedbush raised their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic restated a “neutral” rating and set a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Finally, TD Cowen started coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $304.44.

Visa Stock Down 0.2 %

V opened at $262.55 on Wednesday. The company has a 50 day moving average of $272.88 and a 200 day moving average of $273.85. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa has a 12 month low of $227.68 and a 12 month high of $290.96. The company has a market cap of $480.19 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period last year, the firm earned $2.09 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts expect that Visa will post 9.94 EPS for the current year.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s 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 $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visa

Large investors have recently made changes to their positions in the business. Livelsberger Financial Advisory purchased a new position in Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in Visa in the 4th quarter worth approximately $32,000. Frank Rimerman Advisors LLC bought a new stake in Visa in the 4th quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in Visa in the 4th quarter worth approximately $37,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Company Profile

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.