KeyCorp Upgrades Visa (NYSE:V) to "Strong-Buy"

Key Points

• KeyCorp has upgraded Visa to a "strong-buy" rating, signaling increased confidence in the company's performance.
• Overall, Visa has received positive evaluations from multiple research firms, with three analysts giving it a Strong Buy rating and a consensus price target of $392.75.
• Despite the positive outlook, Visa's stock has seen a slight decline, with shares down 0.6% recently, and the current trading price around $345.10.

Visa (NYSE:V - Get Free Report) was upgraded by KeyCorp to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on V. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Barclays reissued an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $392.75.

Visa Stock Down 0.6%

Shares of NYSE V opened at $345.10 on Tuesday. The company has a 50 day simple moving average of $344.72 and a 200 day simple moving average of $347.09. The firm has a market cap of $632.50 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa has a 1 year low of $280.78 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned $2.42 EPS. On average, research analysts forecast that Visa will post 11.3 EPS for the current year.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently bought and sold shares of V. Brighton Jones LLC boosted its holdings in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Visa by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor's stock worth $14,761,000 after acquiring an additional 3,795 shares during the last quarter. Invesco LLC boosted its holdings in Visa by 8.3% during the 1st quarter. Invesco LLC now owns 16,871 shares of the credit-card processor's stock worth $5,913,000 after acquiring an additional 1,300 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Visa by 0.9% during the 1st quarter. International Assets Investment Management LLC now owns 37,490 shares of the credit-card processor's stock worth $13,139,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

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.

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