Piper Sandler Cuts Visa (NYSE:V) Price Target to $319.00

Visa (NYSE:V) had its price target cut by stock analysts at Piper Sandler from $322.00 to $319.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the credit-card processor’s stock. Piper Sandler’s price objective suggests a potential upside of 25.67% from the company’s current price.

Other analysts have also issued research reports about the company. Morgan Stanley decreased their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday. Mizuho increased their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Visa from $302.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. Macquarie upped their price target on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price objective on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $304.77.

Visa Stock Performance

Visa stock opened at $253.84 on Wednesday. The company’s 50-day moving average price is $270.45 and its 200-day moving average price is $274.25. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market cap of $464.26 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95. Visa has a twelve month low of $227.68 and a twelve month high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 52.04% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Visa will post 9.94 EPS for the current fiscal year.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Institutional Trading of Visa

A number of institutional investors have recently bought and sold shares of the stock. Westend Capital Management LLC purchased a new stake in shares of Visa in the 1st quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in Visa in the fourth quarter valued at $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. O Brien Wealth Partners LLC purchased a new position in shares of Visa during the 4th quarter valued at about $32,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Visa in the 4th quarter worth approximately $33,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.