Visa (NYSE:V) Price Target Cut to $254.00 - Defense World

Visa (NYSE:V – Get Rating) had its target price decreased by investment analysts at Cowen from $276.00 to $254.00 in a research note issued on Wednesday, Briefing.com reports. The firm currently has an "outperform" rating on the credit-card processor's stock. Cowen's price target points to a potential upside of 26.31% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Credit Suisse Group lifted their price target on shares of Visa from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday. Exane BNP Paribas lowered shares of Visa from an "outperform" rating to a "neutral" rating and set a $210.00 price target on the stock. in a report on Monday, January 10th. Citigroup decreased their price target on shares of Visa from $285.00 to $265.00 in a report on Monday. BNP Paribas lowered shares of Visa from an "outperform" rating to a "neutral" rating and set a $210.00 price target on the stock. in a report on Monday, January 10th. Finally, Robert W. Baird decreased their price target on shares of Visa from $305.00 to $290.00 in a report on Friday, January 28th. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Visa has an average rating of "Buy" and a consensus price target of $266.48.

NYSE:V opened at $201.10 on Wednesday. Visa has a 52 week low of $186.67 and a 52 week high of $252.67. The firm has a market cap of $384.95 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.90 and a beta of 0.92. The firm's 50-day simple moving average is $213.84 and its 200 day simple moving average is $214.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V – Get Rating) last released its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 EPS for the quarter, beating the consensus estimate of $1.65 by $0.14. Visa had a net margin of 51.59% and a return on equity of 40.11%. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the firm earned $1.38 EPS. The business's quarterly revenue was up 25.5% compared to the same quarter last year. Sell-side analysts anticipate that Visa will post 7.04 EPS for the current year.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm's stock in a transaction on Monday, January 31st. The stock was sold at an average price of $224.90, for a total transaction of $2,024,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Ryan Mcinerney sold 6,467 shares of the firm's stock in a transaction on Friday, April 1st. The shares were sold at an average price of $223.65, for a total value of $1,446,344.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,250 shares of company stock valued at $10,951,267. Insiders own 0.21% of the company's stock.

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Visa in the 4th quarter worth about $2,740,577,000. TCI Fund Management Ltd. increased its holdings in Visa by 41.8% in the 3rd quarter. TCI Fund Management Ltd. now owns 19,939,311 shares of the credit-card processor's stock worth $4,441,482,000 after buying an additional 5,881,421 shares in the last quarter. Lone Pine Capital LLC bought a new stake in Visa in the 4th quarter worth about $1,047,495,000. GQG Partners LLC increased its holdings in Visa by 46.2% in the 4th quarter. GQG Partners LLC now owns 11,289,146 shares of the credit-card processor's stock worth $2,446,122,000 after buying an additional 3,567,771 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Visa by 51.2% in the 4th quarter. Bank of Montreal Can now owns 9,393,795 shares of the credit-card processor's stock worth $2,090,120,000 after buying an additional 3,179,759 shares in the last quarter. 81.28% of the stock is owned by institutional investors and hedge funds.

About Visa (Get Rating)

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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