Visa (NYSE:V) Price Target Cut to $361.00 by Analysts at Truist Financial

Visa (NYSE:V) had its price target dropped by equities researchers at Truist Financial from $372.00 to $361.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the credit-card processor’s stock. Truist Financial’s price target points to a potential upside of 17.50% from the company’s current price.

Several other equities analysts have also commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $411.00 price target (up from $398.00) on shares of Visa in a research report on Friday, January 30th. TD Cowen reiterated a “buy” rating on shares of Visa in a report on Friday, January 30th. Loop Capital started coverage on shares of Visa in a research note on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective for the company. BMO Capital Markets started coverage on Visa in a report on Tuesday. They set an “outperform” rating and a $365.00 price objective for the company. Finally, Piper Sandler set a $160.00 target price on Visa in a research report on Wednesday, January 28th. Seven investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $387.79.

Visa Trading Down 0.5%

V traded down $1.64 during midday trading on Friday, hitting $307.24. The company’s stock had a trading volume of 1,674,836 shares, compared to its average volume of 7,633,273. Visa has a 52-week low of $293.89 and a 52-week high of $375.51. The firm has a 50-day moving average price of $309.97 and a two-hundred day moving average price of $328.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm has a market cap of $557.69 billion, a P/E ratio of 28.79, a PEG ratio of 1.79 and a beta of 0.80.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the firm posted $2.75 EPS. The company’s revenue was up 14.6% on a year-over-year basis. On average, research analysts anticipate that Visa will post 12.84 earnings per share for the current year.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the sale, the director directly owned 2,679 shares in the company, valued at $829,471.98. The trade was a 19.53% 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. 0.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visa

A number of hedge funds have recently made changes to their positions in the business. Clayton Financial Group LLC increased its holdings in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp lifted its stake in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the fourth quarter worth about $26,000. Parvin Asset Management LLC grew its stake in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in shares of Visa in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.