Visa (NYSE:V) Hits New 52-Week High on Analyst Upgrade

Shares of Visa Inc. (NYSE:V) reached a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $322.00 to $368.00. Piper Sandler currently has an overweight rating on the stock. Visa traded as high as $331.30 and last traded at $329.68, with a volume of 399056 shares. The stock had previously closed at $330.20.

Several other equities research analysts have also issued reports on V. BMO Capital Markets increased their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays increased their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $335.52.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Visa

A number of institutional investors and hedge funds have recently modified their holdings of V. Wallace Advisory Group LLC grew its stake in Visa by 15.0% in the second quarter. Wallace Advisory Group LLC now owns 5,196 shares of the credit-card processor’s stock worth $1,364,000 after purchasing an additional 677 shares in the last quarter. Second Line Capital LLC grew its stake in Visa by 9.7% during the 2nd quarter. Second Line Capital LLC now owns 9,194 shares of the credit-card processor’s stock worth $2,413,000 after buying an additional 814 shares during the last quarter. Invst LLC increased its holdings in shares of Visa by 21.2% during the second quarter. Invst LLC now owns 4,534 shares of the credit-card processor’s stock valued at $1,194,000 after acquiring an additional 793 shares in the last quarter. Quarry LP increased its stake in Visa by 310.5% during the 2nd quarter. Quarry LP now owns 468 shares of the credit-card processor’s stock valued at $123,000 after purchasing an additional 354 shares in the last quarter. Finally, Regal Investment Advisors LLC raised its stake in Visa by 3.0% in the 2nd quarter. Regal Investment Advisors LLC now owns 8,583 shares of the credit-card processor’s stock worth $2,253,000 after acquiring an additional 249 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $314.95 and a 200-day moving average price of $290.79. The stock has a market capitalization of $622.49 billion, a PE ratio of 34.34, a PEG ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. Research analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

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.