Bank of America Increases Visa (NYSE:V) Price Target to $363.00

Visa (NYSE:V) had its target price boosted by research analysts at Bank of America from $331.00 to $363.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the credit-card processor’s stock. Bank of America‘s target price indicates a potential upside of 5.75% from the stock’s current price.

Several other research firms have also recently commented on V. Oppenheimer upped their target price on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Mizuho raised their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.80.

Visa Price Performance

Shares of NYSE:V opened at $343.26 on Friday. The company has a market cap of $639.46 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.27 and a beta of 0.96. Visa has a 52 week low of $252.70 and a 52 week high of $344.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $316.43 and a 200-day simple moving average of $292.09.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. Equities research analysts forecast that Visa will post 11.18 EPS for the current year.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of V. Hoge Financial Services LLC bought a new position in Visa during the fourth quarter worth about $229,000. Sierra Ocean LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $311,000. Meridiem Investment Management Ltd. acquired a new position in Visa in the 4th quarter valued at $104,000. Monument Capital Management lifted its position in shares of Visa by 3.3% during the 4th quarter. Monument Capital Management now owns 6,354 shares of the credit-card processor’s stock valued at $2,008,000 after acquiring an additional 201 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Visa by 3.7% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 11,049 shares of the credit-card processor’s stock worth $3,492,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds 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.