Oppenheimer Raises Visa (V) Price Target to $176.00

Visa (NYSE:V) had its price objective increased by equities researchers at Oppenheimer from $162.00 to $176.00 in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the credit-card processor’s stock. Oppenheimer’s target price indicates a potential upside of 9.45% from the company’s previous close.

V has been the topic of a number of other research reports. Raymond James reiterated an “outperform” rating and issued a $152.00 price target (down previously from $167.00) on shares of Visa in a research note on Thursday, January 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $160.00 price target on shares of Visa in a research note on Thursday, January 31st. Wedbush upped their price target on shares of Visa from $150.00 to $162.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Jefferies Financial Group upped their price target on shares of Visa from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, reiterated a “buy” rating on shares of Visa in a research note on Tuesday, February 12th. One investment analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $169.68.

Shares of Visa stock traded up $0.58 during trading on Wednesday, hitting $160.81. 118,082 shares of the stock were exchanged, compared to its average volume of 8,096,578. The firm has a market capitalization of $321.64 billion, a PE ratio of 34.84, a P/E/G ratio of 1.83 and a beta of 1.00. Visa has a 1-year low of $119.37 and a 1-year high of $161.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 1.50.

Visa (NYSE:V) last released its quarterly earnings data on Wednesday, January 30th. The credit-card processor reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.41 billion. Visa had a net margin of 50.61% and a return on equity of 39.32%. Visa’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 EPS. As a group, analysts expect that Visa will post 5.32 EPS for the current year.

In other news, EVP Tullier Kelly Mahon sold 91,046 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $156.29, for a total transaction of $14,229,579.34. Following the completion of the sale, the executive vice president now owns 120,602 shares of the company’s stock, valued at approximately $18,848,886.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Ellen Richey sold 81,005 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $139.99, for a total transaction of $11,339,889.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 193,531 shares of company stock valued at $28,797,949. 0.17% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Palo Capital Inc. acquired a new stake in shares of Visa during the third quarter worth $677,000. Middleton & Co Inc MA increased its position in shares of Visa by 4.3% during the third quarter. Middleton & Co Inc MA now owns 121,813 shares of the credit-card processor’s stock worth $18,283,000 after buying an additional 5,043 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Visa by 2.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,056,400 shares of the credit-card processor’s stock worth $308,645,000 after buying an additional 55,931 shares during the period. Alps Advisors Inc. increased its position in shares of Visa by 92.3% during the third quarter. Alps Advisors Inc. now owns 9,997 shares of the credit-card processor’s stock worth $1,500,000 after buying an additional 4,797 shares during the period. Finally, Buckley Wealth Management LLC increased its position in shares of Visa by 17.0% during the third quarter. Buckley Wealth Management LLC now owns 2,762 shares of the credit-card processor’s stock worth $415,000 after buying an additional 402 shares during the period. 80.94% of the stock is owned by institutional investors.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

Featured Story: Technical Analysis

Analyst Recommendations for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.