Oppenheimer Reaffirms Outperform Rating for Visa (NYSE:V)

Visa (NYSE:V - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Oppenheimer in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $321.00 target price on the credit-card processor's stock, up from their prior target price of $318.00. Oppenheimer's price objective would indicate a potential upside of 10.63% from the company's previous close.

Several other research firms have also recently issued reports on V. Macquarie restated an "outperform" rating and set a $300.00 target price on shares of Visa in a research note on Friday, September 27th. Jefferies Financial Group lowered their target price on shares of Visa from $325.00 to $300.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. William Blair upgraded shares of Visa to a "strong-buy" rating in a research note on Tuesday, July 23rd. Royal Bank of Canada lowered their target price on shares of Visa from $315.00 to $311.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $320.07.

Visa Stock Up 2.9 %

V stock traded up $8.28 during trading on Wednesday, hitting $290.16. 9,051,672 shares of the stock traded hands, compared to its average volume of 7,074,662. Visa has a 1 year low of $232.99 and a 1 year high of $295.78. The firm's 50 day moving average is $279.65 and its two-hundred day moving average is $273.26. The stock has a market cap of $530.68 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm posted $2.33 EPS. Visa's revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Visa will post 9.92 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company's stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Visa

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. HF Advisory Group LLC boosted its stake in shares of Visa by 15.1% in the 3rd quarter. HF Advisory Group LLC now owns 11,029 shares of the credit-card processor's stock valued at $3,033,000 after buying an additional 1,445 shares during the period. JFG Wealth Management LLC boosted its stake in shares of Visa by 22.6% in the 3rd quarter. JFG Wealth Management LLC now owns 1,363 shares of the credit-card processor's stock valued at $375,000 after buying an additional 251 shares during the period. Focused Wealth Management Inc lifted its stake in Visa by 13.9% during the third quarter. Focused Wealth Management Inc now owns 1,132 shares of the credit-card processor's stock worth $311,000 after purchasing an additional 138 shares during the last quarter. Fiduciary Family Office LLC lifted its stake in Visa by 18.4% during the third quarter. Fiduciary Family Office LLC now owns 10,489 shares of the credit-card processor's stock worth $2,884,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Falcon Wealth Planning lifted its stake in Visa by 5.7% during the third quarter. Falcon Wealth Planning now owns 1,393 shares of the credit-card processor's stock worth $383,000 after purchasing an additional 75 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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.