Visa (NYSE:V) Given New $393.00 Price Target at Citigroup

Visa (NYSE:VGet Free Report) had its price target raised by stock analysts at Citigroup from $354.00 to $393.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the credit-card processor’s stock. Citigroup’s price objective suggests a potential upside of 14.26% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Raymond James reissued an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price target on shares of Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group boosted their price target on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Susquehanna boosted their price target on shares of Visa from $375.00 to $395.00 and gave the stock a “positive” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $352.27.

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Visa Price Performance

Shares of V traded up $0.89 during mid-day trading on Friday, reaching $343.94. 5,532,381 shares of the stock traded hands, compared to its average volume of 5,734,698. The firm has a fifty day moving average price of $317.09 and a 200 day moving average price of $292.45. The company has a market cap of $640.72 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa has a 1 year low of $252.70 and a 1 year high of $351.25.

Visa (NYSE:VGet Free Report) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. As a group, equities research analysts predict that Visa will post 11.18 earnings per share for the current year.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % 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.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently made changes to their positions in V. Peterson Financial Group Inc. purchased a new position in shares of Visa in the 3rd quarter worth $26,000. Decker Retirement Planning Inc. purchased a new position in shares of Visa during the 4th quarter worth about $26,000. Reston Wealth Management LLC purchased a new position in shares of Visa during the 3rd quarter worth about $31,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Finally, Modus Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth about $32,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Company Profile

(Get Free Report)

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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