Visa (NYSE:V) Receives “Outperform” Rating from Raymond James

Visa (NYSE:V)‘s stock had its “outperform” rating reiterated by equities researchers at Raymond James in a research note issued to investors on Friday,Benzinga reports. They currently have a $393.00 price target on the credit-card processor’s stock, up from their prior price target of $374.00. Raymond James’ target price points to a potential upside of 13.83% from the stock’s previous close.

V has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer raised their price target on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $342.62.

Visa Stock Performance

NYSE:V traded up $2.21 during trading hours on Friday, hitting $345.26. 3,758,215 shares of the company were exchanged, compared to its average volume of 5,651,792. The stock has a market capitalization of $643.17 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 2.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company’s 50 day moving average price is $317.09 and its 200-day moving average price is $292.45. Visa has a 52-week low of $252.70 and a 52-week high of $351.25.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. As a group, research analysts forecast that Visa will post 11.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s 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 transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Visa

Large investors have recently modified their holdings of the stock. Custom Index Systems LLC acquired a new position in Visa in the 3rd quarter valued at $731,000. Copley Financial Group Inc. purchased a new position in Visa during the third quarter worth about $616,000. Oak Ridge Investments LLC raised its holdings in Visa by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after purchasing an additional 4,198 shares in the last quarter. FORA Capital LLC acquired a new stake in Visa in the third quarter valued at about $7,987,000. Finally, Chicago Capital LLC increased its position in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after purchasing an additional 20,023 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.