Visa (NYSE:V) Given New $322.00 Price Target at Piper Sandler

Visa (NYSE:V) had its price target increased by Piper Sandler from $319.00 to $322.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the credit-card processor’s stock.

Several other analysts also recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. BMO Capital Markets lifted their price objective on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Bank of America lifted 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. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Finally, Robert W. Baird lifted their price objective on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.07.

Visa Stock Performance

V opened at $290.16 on Wednesday. The business has a fifty day simple moving average of $280.09 and a 200 day simple moving average of $273.38. The company has a market capitalization of $530.68 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. Visa has a 1 year low of $232.99 and a 1 year high of $295.78. 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 released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The business 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS. Research analysts expect that Visa will post 9.92 EPS for the current year.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors boosted its position in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors raised its stake in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the period. Ameriprise Financial Inc. boosted its holdings in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares during the period. 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.