The updated April volume numbers from Visa Inc V "should help to soothe some of the concerns around the recent softness in sales numbers from a number of large retailers," according to a note from Keefe, Bruyette & Woods.
Visa said its U.S. payments volume grew 10 percent in April versus 10 percent quarter-to-date through April 14 and 11 percent in the second quarter. KBW's current estimate for Q3 is 11 percent.
U.S. credit volume rose 10 percent in April versus 10 percent in second quarter, while U.S. debit volume also increased 10 percent in April versus 11 percent in the second quarter.
Global cross-border volume advanced 5 percent in April compared to 5 percent (quarter-to-date) through April 14 and 5 percent in Q2.
Global processed transactions grew 9 percent in April compared to 8 percent quarter-to-date through April 14, 9 percent in the second quarter and KBW's current estimate for Q3 stands at 8 percent.
"We would view Visa's updated volume trends for the full month of April as in line with the QTD through mid-month April numbers provided on the company's F2Q16 earnings call and generally in-line with our expectations for F3Q16," analyst Sanjay Sakhrani wrote.
Shares of Visa closed Monday's regular trading session at $77.25. Sakhrani has an Outperform rating and $95 price target on the stock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.