Royal Bank of Canada Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price target increased by equities research analysts at Royal Bank of Canada from $311.00 to $322.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the credit-card processor’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.11% from the stock’s current price.

A number of other analysts have also commented on V. Susquehanna boosted their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird raised their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Bank of America increased their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $317.15.

Visa Trading Up 3.7 %

NYSE V traded up $10.55 on Wednesday, reaching $292.43. The company had a trading volume of 4,589,564 shares, compared to its average volume of 7,050,794. Visa has a 52 week low of $232.99 and a 52 week high of $295.78. The stock’s 50 day moving average is $279.65 and its 200-day moving average is $273.26. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $534.84 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 1.95 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. Equities analysts predict that Visa will post 9.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Institutional investors have recently added to or reduced their stakes in the stock. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Visa during the third quarter valued at approximately $31,000. TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Abich Financial Wealth Management LLC boosted its position in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the 2nd quarter worth approximately $35,000. 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.