Visa Inc [NYSE: V] loss -0.72% or -2.05 points to close at $281.21 with a heavy trading volume of 8498339 shares. The company report on March 21, 2024 at 11:28 AM that Coast raises $92 million in new capital, partners with Visa to expand financial tools and software for modern business fleets.
Coast, which offers a simple and smart way for companies in the United States to manage fuel and fleet spending, today announced it has raised $92 million in new funding. The round includes $25 million in equity capital led by existing investors, including BoxGroup, Avid Ventures, Accel, Insight Partners, and Better Tomorrow Ventures, as well as new investor Vesey Ventures. The company also secured $67 million in committed debt capital from Silicon Valley Bank and TriplePoint Capital.
For the nearly one million American businesses that collectively operate around 40 million vehicles in their commercial fleets – including field service businesses like HVAC, plumbing, landscaping, pest control, construction, government fleets and long-haul trucking – managing expenses in the field is a major challenge. Over the decades, a handful of now very large incumbent payment solutions have emerged to serve fleet-operating companies’ needs with fuel cards, to allow fleet managers to set field-specific controls, like restricting purchases to only fuel products, or tracking expenses on a per-vehicle basis. The fleet fuel payments on these specialized cards add up to a staggering $120 billion annually in the US.
The daily chart for V points out that the company has recorded 19.62% gains over the past six months.
If we look at the average trading volume of 5.40M shares, V reached to a volume of 8498339 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Visa Inc [V]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for V shares is $302.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on V stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Mizuho have made an estimate for Visa Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 18, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price from $296 to $306. The new note on the price target was released on January 18, 2024, representing the official price target for Visa Inc stock.
The Average True Range (ATR) for Visa Inc is set at 3.76, with the Price to Sales ratio for V stock in the period of the last 12 months amounting to 16.94. The Price to Book ratio for the last quarter was 14.81, with the Price to Cash per share for the same quarter was set at 10.69. Price to Free Cash Flow for V in the course of the last twelve months was 29.55 with Quick ratio for the last quarter at 1.45.
Trading performance analysis for V stock
Visa Inc [V] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.35. With this latest performance, V shares dropped by -0.84% in over the last four-week period, additionally plugging by 19.62% over the last 6 months – not to mention a rise of 26.34% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for V stock in for the last two-week period is set at 48.53, with the RSI for the last a single of trading hit 43.42, and the three-weeks RSI is set at 51.82 for Visa Inc [V]. The present Moving Average for the last 50 days of trading for this stock 278.24, while it was recorded at 286.29 for the last single week of trading, and 251.57 for the last 200 days.
Visa Inc [V]: A deeper dive into fundamental analysis
Visa Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.45 and a Current Ratio set at 1.45.
Visa Inc [V]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Visa Inc posted 2.09/share EPS, while the average EPS was predicted by analysts to be reported at 1.99/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for V. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Visa Inc go to 13.29%.
An analysis of Institutional ownership at Visa Inc [V]
The top three institutional holders of V stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in V stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in V stock with ownership which is approximately 5.8325%.
