Visa Delivers ‘Solid’ Earnings Beat, 6 Analysts Provide Key Takeaways: ‘Blame Easter For Softer Trends’
Shares of Visa Inc (NYSE:V) were climbing in early trading on Wednesday, after the company reported an earnings beat for its fiscal second quarter.
Here are some key analyst takeaways from the release.
- Goldman Sachs analyst Will Nance reiterated a Buy rating, while raising the price target from $328 to $335.
- Oppenheimer analyst Jake Kooyman maintained an Outperform rating, while lifting the price target from $297 to $299.
- Wedbush analyst Moshe Katri reaffirmed an Outperform rating, while raising the price target from $280 to $300.
- BMO Capital Markets analyst Rufus Hone reiterated an Outperform rating and price target of $300.
- Keefe Bruyette & Woods analyst Sanjay Sakhrani maintained an Outperform rating and price target of $325.
- Mizuho Securities analyst Dan Dolev reaffirmed a Neutral rating and price target of $265.
Check out other analyst stock ratings.
Goldman Sachs: Visa reported “solid” quarterly results. Earnings of $2.51 per share beat the consensus of $2.44 per share. The results were driven by “broadly inline trends in revenues aided by a large beat on incentives,” Nance said.
Softer trends in April were seen by the company as “largely a function of Easter timing.”
Although management lowered the volume guidance to reflect softer results in the Asia Pacific (APAC) region, they broadly reiterated expectations for improving ticket sizes in both the US and the rest of the world excluding APAC for the rest of the year, “which had …
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