Piper Jaffray reiterated their overweight rating on shares of Visa Inc (NYSE:V) in a research note released on Saturday morning, MarketBeat reports. They currently have a $87.00 price target on the credit-card processor’s stock, down from their previous price target of $88.00.

Shares of Visa (NYSE:V) traded up 7.44% during trading on Friday, hitting $74.49. 40,427,768 shares of the stock traded hands. The firm’s 50-day moving average price is $75.08 and its 200-day moving average price is $74.59. The company has a market cap of $181.04 billion and a price-to-earnings ratio of 27.12. Visa has a 52 week low of $60.00 and a 52 week high of $81.01.

Visa (NYSE:V) last announced its earnings results on Thursday, January 28th. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the company earned $2.53 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Visa will post $2.87 earnings per share for the current year.

In other news, EVP William M. Sheedy sold 60,930 shares of the firm’s stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $79.47, for a total transaction of $4,842,107.10. Following the sale, the executive vice president now owns 235,528 shares of the company’s stock, valued at $18,717,410.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Other large investors have added to or reduced their stakes in the company. Detwiler Fenton Investment Management acquired a new stake in Visa during the fourth quarter worth approximately $268,000. Welch Group LLC raised its stake in Visa by 3.2% in the fourth quarter. Welch Group LLC now owns 3,637 shares of the credit-card processor’s stock worth $282,000 after buying an additional 113 shares in the last quarter. Ledyard National Bank raised its stake in Visa by 9.8% in the fourth quarter. Ledyard National Bank now owns 3,870 shares of the credit-card processor’s stock worth $300,000 after buying an additional 346 shares in the last quarter. Prospera Financial Services raised its stake in Visa by 7.3% in the fourth quarter. Prospera Financial Services now owns 3,925 shares of the credit-card processor’s stock worth $304,000 after buying an additional 266 shares in the last quarter. Finally, Trust Co. of Vermont raised its stake in Visa by 20.7% in the fourth quarter. Trust Co. of Vermont now owns 4,083 shares of the credit-card processor’s stock worth $317,000 after buying an additional 699 shares in the last quarter.

A number of other brokerages have also recently issued reports on V. Vetr cut Visa from a buy rating to a hold rating and set a $82.38 target price for the company. in a research report on Wednesday, November 18th. Sterne Agee CRT started coverage on Visa in a research report on Thursday, December 17th. They issued a buy rating and a $94.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on Visa from $85.00 to $95.00 and gave the company an outperform rating in a research report on Tuesday, December 8th. Macquarie reissued an outperform rating and issued a $85.00 price objective on shares of Visa in a research report on Wednesday, December 30th. Finally, Oppenheimer reissued an outperform rating and issued a $85.00 price objective on shares of Visa in a research report on Monday, November 16th. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. Visa presently has an average rating of Buy and a consensus price target of $83.93.

Visa Inc. is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments. The Company offers fraud protection for account holders and rapid payment for merchants. The Company provides a variety of payment solutions that support payment products that issuers can offer to their account holders, such as pay now with debit, pay ahead with prepaid or pay later with credit products. The Company offers a suite of digital, eCommerce and mobile products and services.

12 Month Chart for NYSE:V

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