Royal Bank of Canada Boosts Visa (NYSE:V) Price Target to $315.00

Visa (NYSE:V) had its price target lifted by research analysts at Royal Bank of Canada from $309.00 to $315.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the credit-card processor’s stock. Royal Bank of Canada’s price target suggests a potential upside of 14.20% from the stock’s previous close.

Other research analysts have also issued reports about the company. KeyCorp upped their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Oppenheimer upped their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna upped their target price on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Keefe, Bruyette & Woods increased their price objective on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $302.70.

Visa Stock Up 0.6 %

V stock traded up $1.73 during midday trading on Wednesday, reaching $275.84. The company had a trading volume of 4,300,796 shares, compared to its average volume of 5,854,733. The company has a 50 day moving average of $279.49 and a two-hundred day moving average of $263.90. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a market capitalization of $506.58 billion, a P/E ratio of 31.77, a PEG ratio of 1.88 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 50.02% and a net margin of 53.92%. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same period last year, the company earned $2.09 earnings per share. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Visa will post 9.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock worth $5,256,352 in the last 90 days. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Visa in the 4th quarter valued at about $3,895,015,000. International Assets Investment Management LLC lifted its holdings in shares of Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after purchasing an additional 4,710,188 shares in the last quarter. FMR LLC increased its stake in Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after purchasing an additional 2,257,605 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Visa during the 3rd quarter worth approximately $358,349,000. Finally, Public Employees Retirement Association of Colorado lifted its stake in Visa by 14,306.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after buying an additional 1,489,856 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

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.