Wells Fargo & Company Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price target raised by analysts at Wells Fargo & Company from $325.00 to $360.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the credit-card processor’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 14.27% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Susquehanna increased their price target on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Keefe, Bruyette & Woods lifted their price objective on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, TD Cowen increased their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $329.70.

Visa Trading Down 0.2 %

NYSE V opened at $315.04 on Friday. 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 stock’s 50-day simple moving average is $308.44 and its two-hundred day simple moving average is $285.08. Visa has a twelve month low of $252.70 and a twelve month high of $321.61. The company has a market capitalization of $586.88 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm earned $2.33 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts forecast that Visa will post 11.23 EPS for the current fiscal year.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the 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 owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Visa

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Visa by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 38,325 shares of the credit-card processor’s stock valued at $12,112,000 after buying an additional 5,055 shares during the period. Versant Capital Management Inc raised its stake in shares of Visa by 23.4% in the fourth quarter. Versant Capital Management Inc now owns 4,526 shares of the credit-card processor’s stock valued at $1,430,000 after acquiring an additional 858 shares in the last quarter. Trust Co of the South boosted its holdings in Visa by 40.0% in the fourth quarter. Trust Co of the South now owns 7,329 shares of the credit-card processor’s stock valued at $2,316,000 after purchasing an additional 2,094 shares during the period. Global Wealth Strategies & Associates grew its stake in Visa by 27.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 229 shares of the credit-card processor’s stock worth $72,000 after purchasing an additional 50 shares in the last quarter. Finally, IMS Capital Management increased its holdings in Visa by 0.9% during the 3rd quarter. IMS Capital Management now owns 10,962 shares of the credit-card processor’s stock worth $3,014,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

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.