Visa (V) : Traders are bullish on Visa (V) as it has outperformed the S&P 500 by a wide margin of 0.32% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.59%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.56% in the last 1 week, and is up 0.7% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Visa Inc. is up 3.78% in the last 3-month period. Year-to-Date the stock performance stands at 4.33%. The stock has recorded a 20-day Moving Average of 1.34% and the 50-Day Moving Average is 3.24%.
Visa (NYSE:V): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $80.01 and $79.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $80.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $80.47, notching a gain of 0.25% for the day. The total traded volume was 8,480,876 . The stock had closed at $80.27 on the previous day.
Also, Barclays maintains their rating on the shares of Visa (NYSE:V). The current rating of the shares is Overweight. Equity Analysts at the Firm lowers the price target to $88 per share from $90 per share. The rating by the firm was issued on July 7, 2016.
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.