Keefe, Bruyette & Woods Raises Visa (NYSE:V) Price Target to $400.00

Visa (NYSE:V) had its price objective lifted by equities researchers at Keefe, Bruyette & Woods from $360.00 to $400.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the credit-card processor’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 15.86% from the stock’s current price.

V has been the subject of several other research reports. Wells Fargo & Company boosted their price target on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $342.62.

Visa Stock Performance

Shares of NYSE V traded up $2.21 during midday trading on Friday, reaching $345.26. 3,758,215 shares of the stock were exchanged, compared to its average volume of 5,651,792. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap 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 firm has a 50-day simple moving average of $317.09 and a two-hundred day simple moving average of $292.45. Visa has a twelve month low of $252.70 and a twelve month high of $351.25.

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

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 17,894 shares in the company, 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. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Custom Index Systems LLC acquired a new position in shares of Visa during the 3rd quarter worth $731,000. Copley Financial Group Inc. bought a new position in Visa during the third quarter valued at about $616,000. Oak Ridge Investments LLC lifted its stake in shares of Visa by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after buying an additional 4,198 shares during the last quarter. FORA Capital LLC bought a new stake in Visa during the third quarter valued at about $7,987,000. Finally, Chicago Capital LLC grew its stake in shares of Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the last quarter. 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.