Visa Analysts Cut Their Forecasts After Q3 Results
Portfolio Pulse from Avi Kapoor
Visa, Inc. (NYSE:V) reported weaker-than-expected sales for its third quarter, with earnings per share meeting but sales slightly missing analyst estimates. Despite strong growth in payments volume, cross-border volume, and processed transactions, Visa shares fell 1.1%. Analysts from Piper Sandler and Morgan Stanley lowered their price targets while maintaining an Overweight rating.
July 24, 2024 | 1:01 pm
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Visa reported Q3 earnings that met EPS estimates but missed sales estimates by 0.18%. Despite strong growth in key metrics, shares fell 1.1%. Analysts from Piper Sandler and Morgan Stanley lowered their price targets while maintaining Overweight ratings.
The slight miss in sales estimates and the subsequent drop in share price indicate a negative short-term impact. However, the maintenance of Overweight ratings by analysts suggests confidence in the company's long-term prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100