No fewer than 17 analysts lifted their price targets on V
Visa Inc (NYSE:V) is in the spotlight this morning, after the payment technology company reported better-than-expected fiscal third-quarter earnings and revenue, as domestic spending recovers to near pre-covid levels. In response, no fewer than 17 analysts lifted their price targets on V.
At last check, Visa stock was down 0.2% to trade at $250.54, cooling from yesterday's record high of $252.67. Fresh off six-straight days of gains, V is up 14.7% year-to-date.
Analysts are almost entirely bullish on the equity, with 17 of the 18 in coverage sporting a "strong buy" rating, and the remaining one a tepid "hold." Meanwhile, short interest has been on the rise, and it would take over four days to buy back these bearish bets, at V's average pace of trading.
The options pits are sporting a similar sentiment. This is per V's 50-day call/put volume ratio of 2.88 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 90% of readings from the past year, indicating a stronger-than-usual penchant for long calls.