Visa's (V) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• Visa's stock received a "buy" rating from Weiss Ratings, reaffirmed in a recent report, indicating positive analyst sentiment.
• Macquarie raised Visa's price target to $425.00 and Wells Fargo upgraded its rating to "strong-buy," showcasing ongoing confidence in the company's prospects.
• Despite fluctuations, Visa's stock price reached $347.89 during midday trading, with a market capitalization of $637.61 billion and a year-over-year revenue increase of 14.3%.

Visa (NYSE:V - Get Free Report)'s stock had its "buy (b)" rating restated by Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other equities research analysts have also recently commented on V. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Wells Fargo & Company raised Visa to a "strong-buy" rating in a research note on Wednesday. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Finally, Barclays reiterated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $392.75.

Visa Stock Performance

Visa stock traded up $1.93 during midday trading on Friday, hitting $347.89. The stock had a trading volume of 1,889,417 shares, compared to its average volume of 6,385,569. Visa has a 52-week low of $280.78 and a 52-week high of $375.51. The company has a market capitalization of $637.61 billion, a PE ratio of 33.97, a P/E/G ratio of 2.04 and a beta of 0.90. The firm's fifty day moving average is $344.73 and its two-hundred day moving average is $347.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping 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 company's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 earnings per share. On average, research analysts forecast that Visa will post 11.3 EPS for the current year.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business'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 value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Institutional Trading of Visa

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Visa in the second quarter worth about $7,034,939,000. Nuveen LLC purchased a new stake in shares of Visa in the first quarter worth approximately $3,518,533,000. TCI Fund Management Ltd. lifted its stake in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor's stock worth $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor's stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. 82.15% of the stock is currently owned by institutional investors.

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.

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