Credit Suisse Group Reiterates “$129.00” Price Target for Visa (V)

Credit Suisse Group set a $129.00 price target on Visa (NYSE:V) in a research note issued to investors on Monday. The brokerage currently has a buy rating on the credit-card processor’s stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Group reaffirmed a buy rating and issued a $125.00 price objective (up from $112.00) on shares of Visa in a research note on Tuesday, October 17th. Robert W. Baird reiterated an outperform rating and issued a $128.00 target price (up from $122.00) on shares of Visa in a report on Monday, October 2nd. Morgan Stanley lifted their target price on Visa from $125.00 to $126.00 and gave the company an overweight rating in a report on Thursday, October 26th. Barclays reiterated a buy rating and issued a $145.00 target price on shares of Visa in a report on Friday, January 5th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $120.00 target price on shares of Visa in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Visa currently has a consensus rating of Buy and an average price target of $120.94.

Visa (V) traded down $0.13 during mid-day trading on Monday, reaching $118.98. The company’s stock had a trading volume of 7,490,300 shares, compared to its average volume of 7,162,271. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $270,810.00, a PE ratio of 42.49, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. Visa has a one year low of $80.51 and a one year high of $120.48.

Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. analysts predict that Visa will post 4.07 EPS for the current fiscal year.

In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the transaction, the executive vice president now owns 76,202 shares in the company, valued at approximately $8,661,119.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Matschullat sold 6,220 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the completion of the transaction, the director now owns 57,368 shares in the company, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. Insiders have sold 58,068 shares of company stock worth $6,597,262 in the last quarter. Insiders own 0.14% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd increased its position in Visa by 711.7% during the 1st quarter. BlueCrest Capital Management Ltd now owns 271,724 shares of the credit-card processor’s stock worth $24,148,000 after purchasing an additional 238,249 shares during the period. AQR Capital Management LLC boosted its stake in shares of Visa by 4.2% during the 1st quarter. AQR Capital Management LLC now owns 495,297 shares of the credit-card processor’s stock worth $44,017,000 after acquiring an additional 19,848 shares in the last quarter. National Asset Management Inc. boosted its stake in shares of Visa by 5.4% during the 1st quarter. National Asset Management Inc. now owns 25,136 shares of the credit-card processor’s stock worth $2,237,000 after acquiring an additional 1,298 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Visa by 32.0% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,828 shares of the credit-card processor’s stock worth $2,029,000 after acquiring an additional 5,528 shares in the last quarter. Finally, Colony Group LLC boosted its stake in shares of Visa by 7.2% during the 1st quarter. Colony Group LLC now owns 7,923 shares of the credit-card processor’s stock worth $704,000 after acquiring an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 81.50% of the company’s stock.

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About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

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