Stocks of Visa Inc (NYSE:V) traded higher last session on Wall Street, up 0.75% to $276.37.
V stock price is now 3.95% away from the 50-day moving average and 2.51% away from the 200-day moving average. The market capitalization of the company currently stands at $546.08B.
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With the price target reduced from $305 to $297, BofA Securities Downgraded its rating from Buy to Neutral for Visa Inc (NYSE: V). On April 11, 2024, TD Cowen recently initiated its ‘Buy’ rating on the stock quoting a target price of $320, while ‘Redburn Atlantic’ rates the stock as ‘Neutral’
In other news, ROTTENBERG JULIE B, GENERAL COUNSEL sold 2,572 shares of the company’s stock on Aug 29 ’24. The stock was sold for $707,300 at an average price of $275.00. Upon completion of the transaction, the GENERAL COUNSEL now directly owns 5,893 shares in the company, valued at $1.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 29 ’24, Chief Executive Officer MCINERNEY RYAN sold 8,620 shares of the business’s stock. A total of $2,370,500 was realized by selling the stock at an average price of $275.00. This leaves the insider owning 538 shares of the company worth $0.15 million. A total of 15.68% of the company’s stock is owned by insiders.
During the past 12 months, Visa Inc has had a low of $227.78 and a high of $290.96. As of last week, the company has a debt-to-equity ratio of 0.52, a current ratio of 1.37, and a quick ratio of 1.37. According to the stock market information, the enterprise value for the company is $634922860544, which is based on a 30.02 price-to-earnings ratio, a 2.38 price-to-earnings-growth ratio, and a beta of 0.96. The fifty day moving average price for V is $265.8494 and a two-hundred day moving average price translates $269.7709 for the stock.
The latest earnings results from Visa Inc (NYSE: V) was released for 2024-06-30. The net profit margin was 53.89% and return on equity was 47.82% for V. The company reported revenue of $8.9 billion for the quarter, compared to $8.12 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.57 percent. For the current quarter, analysts expect V to generate $8.58B in revenue.
