Visa (NYSE:V) Rating Reiterated by Macquarie

Visa (NYSE:V)‘s stock had its “outperform” rating reaffirmed by stock analysts at Macquarie in a research note issued to investors on Friday, Benzinga reports. They currently have a $300.00 target price on the credit-card processor’s stock. Macquarie’s price objective indicates a potential upside of 9.02% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a research note on Wednesday. Finally, Bank of America raised their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.22.

Visa Trading Up 1.3 %

NYSE:V opened at $275.17 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa has a 1-year low of $227.78 and a 1-year high of $293.07. The firm has a market capitalization of $503.27 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The stock has a fifty day simple moving average of $271.31 and a 200 day simple moving average of $273.27.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. Sell-side analysts forecast that Visa will post 9.92 earnings per share for the current year.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Centaurus Financial Inc. boosted its stake in Visa by 72.5% in the second quarter. Centaurus Financial Inc. now owns 18,396 shares of the credit-card processor’s stock worth $4,829,000 after purchasing an additional 7,734 shares in the last quarter. Anchor Investment Management LLC boosted its stake in Visa by 1.2% in the second quarter. Anchor Investment Management LLC now owns 101,450 shares of the credit-card processor’s stock worth $26,627,000 after purchasing an additional 1,157 shares in the last quarter. Heritage Wealth Management Inc. acquired a new position in Visa in the second quarter worth $721,000. Lazari Capital Management Inc. boosted its stake in Visa by 31.3% in the second quarter. Lazari Capital Management Inc. now owns 5,536 shares of the credit-card processor’s stock worth $1,453,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Visa in the second quarter worth $87,426,000. Institutional investors and hedge funds 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.