Royal Bank of Canada Issues Positive Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its target price raised by 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 price target would indicate a potential upside of 10.11% from the stock’s current price.

Several other research firms have also recently commented on V. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Oppenheimer reiterated an “outperform” rating and set a $321.00 price objective (up previously from $318.00) on shares of Visa in a research note on Wednesday. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Finally, TD Cowen lowered their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $317.15.

Visa Trading Up 3.7 %

V stock traded up $10.55 during midday trading on Wednesday, hitting $292.43. The stock had a trading volume of 4,589,564 shares, compared to its average volume of 7,050,794. The company’s 50-day moving average price is $279.65 and its 200 day moving average price is $273.26. Visa has a 12-month low of $232.99 and a 12-month high of $295.78. The firm has a market cap of $534.84 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results 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 firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 earnings per share. On average, equities research analysts predict that Visa will post 9.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently made changes to their positions in the business. POM Investment Strategies LLC boosted 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 acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa in the third quarter valued at about $31,000. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa in the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the second quarter worth approximately $35,000. 82.15% of the stock is owned by 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.