Piper Sandler Cuts Visa (NYSE:V) Price Target to $200.00

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Visa (NYSE:V) had its price objective decreased by investment analysts at Piper Sandler from $206.00 to $200.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the credit-card processor’s stock. Piper Sandler’s price objective points to a potential upside of 8.93% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Raymond James lowered their price target on shares of Visa from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Thursday. Credit Suisse Group lowered their target price on shares of Visa from $235.00 to $230.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Visa from $186.00 to $229.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Daiwa Capital Markets restated a “neutral” rating and set a $204.00 price objective on shares of Visa in a report on Tuesday, July 21st. Finally, Bank of America upped their target price on Visa from $227.00 to $234.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $216.79.

Shares of NYSE:V traded up $2.73 on Thursday, hitting $183.60. The company had a trading volume of 410,712 shares, compared to its average volume of 10,047,374. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. Visa has a 52-week low of $133.93 and a 52-week high of $217.35. The business has a 50 day moving average of $200.71 and a 200 day moving average of $193.76. The company has a market cap of $351.32 billion, a PE ratio of 35.08, a PEG ratio of 2.59 and a beta of 0.91.

Visa (NYSE:V) last posted its quarterly earnings data on Wednesday, October 28th. The credit-card processor reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Visa had a return on equity of 40.65% and a net margin of 51.37%. As a group, equities analysts predict that Visa will post 5.01 EPS for the current year.

In related news, EVP Lynne Biggar sold 5,500 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $199.99, for a total transaction of $1,099,945.00. Following the completion of the sale, the executive vice president now directly owns 19,370 shares of the company’s stock, valued at approximately $3,873,806.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lloyd Carney sold 1,550 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total transaction of $298,592.00. Following the completion of the transaction, the director now owns 2,962 shares in the company, valued at approximately $570,599.68. The disclosure for this sale can be found here. Insiders sold 111,122 shares of company stock valued at $23,383,541 in the last ninety days. 0.19% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Visa by 2.3% during the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock worth $24,393,195,000 after purchasing an additional 2,819,598 shares during the period. Fisher Asset Management LLC boosted its stake in Visa by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock valued at $4,052,559,000 after purchasing an additional 660,147 shares during the period. Bank of New York Mellon Corp grew its position in Visa by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock worth $3,268,029,000 after purchasing an additional 260,069 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Visa by 5.6% in the second quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock valued at $3,128,020,000 after purchasing an additional 862,914 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Visa by 0.8% during the second quarter. Swiss National Bank now owns 7,448,494 shares of the credit-card processor’s stock valued at $1,438,826,000 after buying an additional 62,100 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Visa

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.

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