Jefferies Financial Group Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price objective raised by equities researchers at Jefferies Financial Group from $320.00 to $330.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the credit-card processor’s stock. Jefferies Financial Group’s price objective points to a potential upside of 12.96% from the company’s previous close.

Several other research analysts also recently commented on the company. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup cut their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $318.26.

Visa Stock Up 3.6 %

Shares of NYSE:V traded up $10.26 during mid-day trading on Wednesday, reaching $292.14. 5,323,312 shares of the stock were exchanged, compared to its average volume of 7,053,719. 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’s 50 day simple moving average is $279.65 and its 200-day simple moving average is $273.26. The company has a market cap of $534.31 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.95 and a beta of 0.96. Visa has a one year low of $232.99 and a one year high of $295.78.

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

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Visa

Institutional investors and hedge funds have recently made changes to their positions in the business. POM Investment Strategies LLC boosted its position 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 purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in Visa in the 3rd quarter worth $31,000. TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors 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.