Citigroup Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price objective increased by investment analysts at Citigroup from $326.00 to $354.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the credit-card processor’s stock. Citigroup’s price target would suggest a potential upside of 14.32% from the company’s current price.

A number of other research firms also recently issued reports on V. BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays raised their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Mizuho increased their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Piper Sandler lifted their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $331.92.

Visa Trading Up 0.9 %

V traded up $2.75 on Tuesday, reaching $309.67. 2,591,772 shares of the company traded hands, compared to its average volume of 5,627,127. The company has a market cap of $576.88 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa has a one year low of $252.70 and a one year high of $321.61. The firm has a fifty day simple moving average of $312.44 and a two-hundred day simple moving average of $287.32.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts expect that Visa will post 11.23 earnings per share for the current year.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Visa

Institutional investors have recently bought and sold shares of the business. Custom Index Systems LLC purchased a new position in shares of Visa in the 3rd quarter valued at approximately $731,000. Copley Financial Group Inc. purchased a new position in shares of Visa during the 3rd quarter worth approximately $616,000. FORA Capital LLC acquired a new position in Visa during the third quarter worth $7,987,000. Chicago Capital LLC lifted its holdings in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after acquiring an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC increased its holdings in shares of Visa by 5,034.0% in the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after purchasing an additional 55,273 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.