Zacks Investment Research upgraded shares of Visa Inc. (NYSE:V) from a hold rating to a buy rating in a report published on Tuesday. The brokerage currently has $93.00 target price on the credit-card processor’s stock.
According to Zacks, “Visa’s strategic acquisitions and alliances, technology upgrades, effective marketing efforts and strong balance sheet bode well for long-term growth. The acquisition of Visa Europe is expected to open vast business opportunity for the company in the region and provide it greater scale and diversified business. The U.S. consumer growth remains strong and is likely to continue boosting Visa’s revenues in the future. The recent agreement with Paypal is also slated to increase transaction volume for Visa. In three of the last four quarters, the company has posted positive earning surprise ith an average beat of 1.87%. However, weaknesses in China, Brazil and other oil-based economies, a stronger U.S. dollar and global economic uncertainty are expected to dampen cross-border revenues. Litigation overhang and high client incentives are other headwinds.”
V has been the topic of several other research reports. Pacific Crest set a $92.00 price objective on shares of Visa and gave the company a buy rating in a research report on Wednesday, September 14th. Barclays PLC raised their price objective on shares of Visa from $88.00 to $90.00 and gave the company an overweight rating in a research report on Monday, September 12th. Deutsche Bank AG reaffirmed a buy rating and set a $87.00 price objective on shares of Visa in a research report on Tuesday, September 6th. Robert W. Baird raised their price objective on shares of Visa from $90.00 to $95.00 and gave the company an outperform rating in a research report on Tuesday, September 6th. Finally, Vetr lowered shares of Visa from a buy rating to a hold rating and set a $83.12 price objective on the stock. in a research report on Monday, August 15th. Four research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $88.81.
Shares of Visa (NYSE:V) opened at 82.88 on Tuesday. Visa has a 12-month low of $66.12 and a 12-month high of $83.79. The firm has a market capitalization of $195.59 billion, a PE ratio of 35.22 and a beta of 0.95. The company has a 50-day moving average of $82.03 and a 200 day moving average of $79.10.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business earned $3.63 billion during the quarter, compared to analyst estimates of $3.67 billion. Visa had a net margin of 38.72% and a return on equity of 22.36%. On average, analysts predict that Visa will post $2.79 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Visa by 1.0% in the second quarter. Vanguard Group Inc. now owns 118,024,396 shares of the credit-card processor’s stock worth $8,753,870,000 after buying an additional 1,207,526 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Visa by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 52,630,415 shares of the credit-card processor’s stock worth $4,025,174,000 after buying an additional 428,238 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Visa by 0.6% in the second quarter. BlackRock Fund Advisors now owns 26,459,968 shares of the credit-card processor’s stock worth $1,962,536,000 after buying an additional 169,668 shares during the last quarter. BlackRock Group LTD boosted its stake in Visa by 1.6% in the first quarter. BlackRock Group LTD now owns 17,981,225 shares of the credit-card processor’s stock worth $1,375,205,000 after buying an additional 284,002 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Visa by 3.8% in the second quarter. TIAA CREF Investment Management LLC now owns 17,877,455 shares of the credit-card processor’s stock worth $1,325,971,000 after buying an additional 647,407 shares during the last quarter. 80.08% of the stock is owned by institutional investors and hedge funds.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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