Wells Fargo & Company Increases Visa (NYSE:V) Price Target to $360.00

Visa (NYSE:V) had its target price boosted by research analysts at Wells Fargo & Company from $325.00 to $360.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the credit-card processor’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 14.27% from the stock’s current price.

V has been the topic of a number of other reports. 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 report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Barclays increased their target price 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. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $329.70.

Visa Trading Down 0.2 %

Shares of Visa stock opened at $315.04 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $308.44 and a 200-day simple moving average of $285.08. The stock has a market cap of $586.88 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.11 and a beta of 0.96. Visa has a 12-month low of $252.70 and a 12-month high of $321.61.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.33 earnings per share. On average, equities analysts forecast that Visa will post 11.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Visa by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 38,325 shares of the credit-card processor’s stock worth $12,112,000 after buying an additional 5,055 shares during the last quarter. Versant Capital Management Inc grew its position in Visa by 23.4% during the fourth quarter. Versant Capital Management Inc now owns 4,526 shares of the credit-card processor’s stock valued at $1,430,000 after acquiring an additional 858 shares during the period. Trust Co of the South increased its stake in Visa by 40.0% during the fourth quarter. Trust Co of the South now owns 7,329 shares of the credit-card processor’s stock worth $2,316,000 after acquiring an additional 2,094 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Visa by 27.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 229 shares of the credit-card processor’s stock valued at $72,000 after purchasing an additional 50 shares in the last quarter. Finally, IMS Capital Management grew its holdings in shares of Visa by 0.9% during the 3rd quarter. IMS Capital Management now owns 10,962 shares of the credit-card processor’s stock worth $3,014,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds 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.