Piper Sandler Upgrades Visa (NYSE:V) to Strong-Buy

Visa (NYSE:VGet Free Report) was upgraded by equities researchers at Piper Sandler to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on V. Evercore set a $350.00 target price on Visa in a report on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Loop Capital began coverage on shares of Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target for the company. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $397.96.

View Our Latest Research Report on V

Visa Stock Up 0.3%

Shares of NYSE V opened at $342.63 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $324.40 and its two-hundred day moving average is $324.52. Visa has a 52-week low of $293.89 and a 52-week high of $359.66. The firm has a market cap of $614.60 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 1.82 and a beta of 0.77.

Visa (NYSE:VGet Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same period last year, the business posted $2.76 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Research analysts predict that Visa will post 13.09 EPS for the current year.

Visa announced that its board has authorized a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Visa

In related news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 63,064 shares of company stock valued at $21,289,800. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Clayton Financial Group LLC grew its stake in shares of 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 during the last quarter. PayPay Securities Corp increased its position in Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the fourth quarter valued at approximately $26,000. Parvin Asset Management LLC lifted its holdings in 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 acquiring an additional 50 shares during the period. Finally, Dorato Capital Management purchased a new position in shares of Visa in the 4th quarter valued at about $30,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa News Summary

Here are the key news stories impacting Visa this week:

Visa Company Profile

(Get Free Report)

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.

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