Visa (NYSE:V) Price Target Raised to $393.00 at Citigroup

Visa (NYSE:V) had its price target raised by equities research analysts at Citigroup from $354.00 to $393.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the credit-card processor’s stock. Citigroup’s price target points to a potential upside of 14.26% from the company’s previous close.

V has been the subject of several other research reports. Susquehanna boosted their price target on shares of Visa from $375.00 to $395.00 and gave the company a “positive” rating in a report on Friday. Wells Fargo & Company boosted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group boosted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Robert W. Baird lifted 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. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $352.27.

Visa Trading Up 0.3 %

V traded up $0.89 on Friday, reaching $343.94. 5,532,381 shares of the company traded hands, compared to its average volume of 5,734,698. Visa has a one year low of $252.70 and a one year high of $351.25. The firm has a fifty day simple moving average of $317.09 and a two-hundred day simple moving average of $292.45. The company has a market cap of $640.72 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 2.27 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 (NYSE:V) last posted its quarterly earnings results 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, equities research analysts expect that Visa will post 11.18 earnings per share for the current year.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the 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 in the company, valued at $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. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Czech National Bank increased its position in Visa by 13.4% during the third quarter. Czech National Bank now owns 340,238 shares of the credit-card processor’s stock worth $93,548,000 after purchasing an additional 40,268 shares during the last quarter. Unique Wealth LLC increased its position in shares of Visa by 16.7% during the third quarter. Unique Wealth LLC now owns 8,170 shares of the credit-card processor’s stock valued at $2,246,000 after acquiring an additional 1,171 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. Farmers Trust Co. increased its position in shares of Visa by 0.6% during the third quarter. Farmers Trust Co. now owns 25,773 shares of the credit-card processor’s stock valued at $7,086,000 after acquiring an additional 154 shares during the last quarter. Finally, Delta Financial Group Inc. increased its position in shares of Visa by 1.3% during the third quarter. Delta Financial Group Inc. now owns 7,673 shares of the credit-card processor’s stock valued at $2,110,000 after acquiring an additional 99 shares during the last quarter. 82.15% of the stock is 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.