Visa’s (V) “Neutral” Rating Reiterated at Monness Crespi & Hardt

Visa (NYSE:V)‘s stock had its “neutral” rating reiterated by investment analysts at Monness Crespi & Hardt in a research report issued to clients and investors on Tuesday, Benzinga reports.

Several other research firms have also issued reports on V. Morgan Stanley reduced their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group dropped their price objective 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 raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Citigroup decreased their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Price Performance

V traded down $11.86 during midday trading on Tuesday, hitting $276.77. The company had a trading volume of 7,115,201 shares, compared to its average volume of 7,195,446. Visa has a twelve month low of $227.78 and a twelve month high of $293.07. The company has a market capitalization of $506.20 billion, a PE ratio of 30.82, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s 50-day simple moving average is $271.05 and its 200-day simple moving average is $273.47.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts predict that Visa will post 9.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of large investors have recently modified their holdings of V. Westend Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in Visa during the fourth quarter worth approximately $25,000. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new position in Visa during the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC boosted its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.