Visa (NYSE:V) Now Covered by Citigroup

Key Points

• Citigroup analysts have initiated coverage on Visa, setting a "buy" rating and a price target of $450.00, indicating a potential upside of 30.40% from its recent close.
• Visa's stock is currently rated as a "Moderate Buy" by analysts, with multiple price targets ranging from $391.00 to $450.00, reflecting strong interest from investment analysts.
• In recent trading, Visa shares have reached a price of $345.10, showing the company has a market cap of $632.50 billion and a successful recent earnings report that beat analyst expectations.

Analysts at Citigroup started coverage on shares of Visa (NYSE:V - Get Free Report) in a report released on Wednesday,Benzinga reports. The brokerage set a "buy" rating and a $450.00 price target on the credit-card processor's stock. Citigroup's price objective would suggest a potential upside of 30.40% from the company's previous close.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. KeyCorp reiterated an "overweight" rating and issued a $405.00 price target on shares of Visa in a research report on Wednesday. Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Robert W. Baird set a $410.00 price target on Visa and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, Truist Financial dropped their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $392.75.

Visa Price Performance

Shares of Visa stock traded down $2.11 during trading on Wednesday, reaching $345.10. 5,072,300 shares of the stock traded hands, compared to its average volume of 6,403,932. The company has a market capitalization of $632.50 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.04 and a beta of 0.90. The business has a fifty day simple moving average of $344.68 and a two-hundred day simple moving average of $347.11. 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 has a 52-week low of $280.78 and a 52-week high of $375.51.

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 for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. Sell-side analysts expect that Visa will post 11.3 EPS for the current year.

Insider Activity at Visa

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

Hedge Funds Weigh In On Visa

A number of large investors have recently bought and sold shares of the business. Pachira Investments Inc. boosted its holdings in Visa by 14.5% in the third quarter. Pachira Investments Inc. now owns 835 shares of the credit-card processor's stock worth $285,000 after acquiring an additional 106 shares in the last quarter. Index Fund Advisors Inc. boosted its holdings in Visa by 81.3% in the third quarter. Index Fund Advisors Inc. now owns 8,517 shares of the credit-card processor's stock valued at $2,907,000 after purchasing an additional 3,818 shares during the last quarter. Avalon Capital Management boosted its holdings in Visa by 4.5% in the third quarter. Avalon Capital Management now owns 5,842 shares of the credit-card processor's stock valued at $1,994,000 after purchasing an additional 254 shares during the last quarter. DSM Capital Partners LLC raised its position in shares of Visa by 9.6% in the third quarter. DSM Capital Partners LLC now owns 493,901 shares of the credit-card processor's stock worth $168,608,000 after acquiring an additional 43,365 shares during the period. Finally, O Brien Wealth Partners LLC raised its position in shares of Visa by 79.8% in the third quarter. O Brien Wealth Partners LLC now owns 160 shares of the credit-card processor's stock worth $55,000 after acquiring an additional 71 shares during the period. 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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