Visa (NYSE:V) Given New $330.00 Price Target at Jefferies Financial Group

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

V has been the subject of several other reports. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Robert W. Baird upped their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Four 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. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.26.

Visa Stock Up 3.6 %

Shares of Visa stock traded up $10.26 during trading on Wednesday, hitting $292.14. 5,323,312 shares of the stock traded hands, compared to its average volume of 7,053,719. The company has a fifty day moving average price of $279.65 and a two-hundred day moving average price of $273.26. Visa has a twelve month low of $232.99 and a twelve month high of $295.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $534.31 billion, a P/E ratio of 32.55, a PEG ratio of 1.95 and a beta of 0.96.

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

Insider Transactions at Visa

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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Several large investors have recently made changes to their positions in the company. FSM Wealth Advisors LLC increased its holdings in shares of Visa by 1.9% in the third quarter. FSM Wealth Advisors LLC now owns 10,376 shares of the credit-card processor’s stock worth $2,853,000 after acquiring an additional 197 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Visa by 2.1% in the third quarter. Hazlett Burt & Watson Inc. now owns 4,952 shares of the credit-card processor’s stock worth $1,364,000 after acquiring an additional 101 shares in the last quarter. Quintet Private Bank Europe S.A. grew its holdings in shares of Visa by 16.9% during the third quarter. Quintet Private Bank Europe S.A. now owns 261,166 shares of the credit-card processor’s stock worth $71,808,000 after buying an additional 37,823 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Visa by 0.5% during the third quarter. PDS Planning Inc now owns 9,182 shares of the credit-card processor’s stock worth $2,525,000 after buying an additional 50 shares in the last quarter. Finally, Garrison Asset Management LLC grew its holdings in shares of Visa by 2.6% during the third quarter. Garrison Asset Management LLC now owns 1,919 shares of the credit-card processor’s stock worth $528,000 after buying an additional 49 shares in the last quarter. 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.