Visa (NYSE:V) Given New $430.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised Visa’s price target to $430 from $420 and maintained an “outperform” rating, implying approximately 11.5% upside from the stock’s current price.
• Visa reported quarterly earnings of $3.32 per share, exceeding the $3.23 consensus estimate, while revenue rose 14.4% year over year to $11.63 billion.
• Analyst sentiment remains strongly positive, with MarketBeat reporting a consensus “Buy” rating and an average price target of $425.52; institutional investors own 82.15% of the shares.

Visa (NYSE:V - Get Free Report) had its price target boosted by analysts at Robert W. Baird from $420.00 to $430.00 in a report released on Monday, Benzinga reports. The firm presently has an "outperform" rating on the credit-card processor's stock. Robert W. Baird's price target points to a potential upside of 11.51% from the stock's current price.

V has been the subject of a number of other reports. Argus raised their target price on Visa from $396.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Wells Fargo & Company reissued an "overweight" rating and set a $432.00 price target (up from $412.00) on shares of Visa in a research report on Thursday, July 30th. Daiwa Securities Group upped their price objective on shares of Visa from $375.00 to $422.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. TD Cowen restated a "buy" rating and set a $420.00 price objective (up from $416.00) on shares of Visa in a research report on Wednesday, July 29th. Finally, DZ Bank reaffirmed a "buy" rating on shares of Visa in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Strong Buy rating and thirty-four have assigned a Buy rating to the company's stock. According to MarketBeat, Visa has an average rating of "Buy" and a consensus price target of $425.52.

Visa Price Performance

NYSE:V opened at $385.62 on Monday. Visa has a one year low of $293.89 and a one year high of $386.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $688.11 billion, a PE ratio of 32.79, a P/E/G ratio of 1.81 and a beta of 0.77. The stock has a 50 day moving average price of $369.89 and a 200 day moving average price of $343.32.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.98 earnings per share. Equities research analysts expect that Visa will post 13.22 EPS for the current fiscal year.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $358.81, for a total value of $2,108,008.75. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,444,582.94. The trade was a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 1,867 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $368.34, for a total value of $687,690.78. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,778,929.36. This trade represents a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 78,792 shares of company stock worth $28,863,319 over the last quarter. 0.12% of the stock is currently owned by company insiders.

Institutional Trading of Visa

Hedge funds and other institutional investors have recently modified their holdings of the business. Echo45 Advisors LLC grew its holdings in shares of Visa by 7.6% during the 3rd quarter. Echo45 Advisors LLC now owns 1,417 shares of the credit-card processor's stock worth $509,000 after purchasing an additional 100 shares during the period. Moody National Bank Trust Division increased its position in Visa by 9.2% during the 3rd quarter. Moody National Bank Trust Division now owns 27,509 shares of the credit-card processor's stock worth $9,885,000 after purchasing an additional 2,310 shares in the last quarter. Eastern Bank raised its holdings in Visa by 1.8% in the third quarter. Eastern Bank now owns 317,425 shares of the credit-card processor's stock valued at $114,060,000 after buying an additional 5,692 shares during the period. QRG Capital Management Inc. raised its holdings in Visa by 10.8% in the second quarter. QRG Capital Management Inc. now owns 310,501 shares of the credit-card processor's stock valued at $106,530,000 after buying an additional 30,182 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Visa by 21.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 153,432 shares of the credit-card processor's stock valued at $52,629,000 after buying an additional 27,224 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

About Visa

Visa Inc is a global payments technology company that operates one of the world's largest electronic payments networks. Through its VisaNet platform, the company facilitates the authorization, clearing and settlement of payment transactions between consumers, merchants, financial institutions and governments.

Visa provides payment products and services for credit, debit, prepaid and commercial transactions. Its offerings also include digital payment capabilities, tokenization, fraud prevention, risk management and other value-added services designed to support secure electronic commerce and contactless payments.

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