#4 - Visa (NYSE:V)
Visa Inc. (NYSE: V) is also trending on WallStreetBets. The performance of the payment processor's stock has reflected the resilience of the consumer. V stock is up 30% in the last 12 months as the company continues to post year-over-year increases in revenue and earnings.
Visa short interest is only around 2% of the stock's float, which is over 1.5 billion. But it is on the rise in 2024. And that also reflects the consumer. In 2023, credit card delinquencies (payments more than 30 days late) climbed above 7%, which put it above 2019 levels. However, Moody's says that rate is likely to peak between 9% and 10% in 2024.
That's still below the delinquency rates from the 2007 financial crisis and subsequent Great Recession. But since Visa may have to set aside more for charge-offs, it’s enough to keep Visa stock in the crosshairs of short sellers.
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.
Read More - Current Price
- $317.71
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 25 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $328.41 (3.4% Upside)
