Jefferies Group LLC Reaffirms “Buy” Rating for Visa Inc (V)
Visa Inc (NYSE:V)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued to investors on Tuesday. They currently have a $125.00 target price on the credit-card processor’s stock, up from their previous target price of $112.00. Jefferies Group LLC’s price objective suggests a potential upside of 15.42% from the company’s current price.
Several other research firms also recently weighed in on V. Mizuho reiterated a “buy” rating and set a $115.00 price target on shares of Visa in a research note on Thursday, October 12th. Cowen and Company reiterated a “buy” rating and set a $107.00 price target on shares of Visa in a research note on Thursday, October 12th. Stephens began coverage on Visa in a research note on Friday. They set an “overweight” rating and a $125.00 price target for the company. Wells Fargo & Company upgraded Visa from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $107.01 to $120.00 in a research note on Tuesday, October 10th. Finally, Vetr upgraded Visa from a “sell” rating to a “hold” rating and set a $105.08 price target for the company in a research note on Wednesday, September 13th. Two analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Visa has an average rating of “Buy” and an average target price of $110.66.
Shares of Visa (NYSE V) opened at 108.30 on Tuesday. Visa has a 12-month low of $75.17 and a 12-month high of $109.26. The stock’s 50 day moving average price is $105.24 and its 200-day moving average price is $97.71. The firm has a market cap of $247.62 billion, a P/E ratio of 40.28 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.90% and a net margin of 45.10%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. On average, analysts predict that Visa will post $3.43 earnings per share for the current fiscal year.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Visa in the 2nd quarter worth approximately $958,000. Mercer Capital Advisers Inc. grew its position in shares of Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Motco grew its position in shares of Visa by 25.1% in the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $123,000. Finally, BDO Wealth Advisors LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $115,000. Institutional investors and hedge funds own 81.65% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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