Visa Makes New All-Time High, Retreats After Q1 Beat
Visa Inc (NYSE: V) shares are trading higher by $0.40 at $91.55 in Friday's session.
After Thursday's close, the company reported a Q1 EPS beat of $0.07 along with revenue beat of $170 million. The company has matched or beat Wall Street estimates for EPS in every quarter going back Q4 2012 except for Q4 2015 when it missed by one penny.
After a higher open, Visa's stock rallied only another $0.03 to $92.80 before reversing course. That exceeded its former all-time high from March 29 at $92.05. It should be noted it weakened that day to end the session at $89.18.
The ensuing decline found support just under Thursday's close ($91.15) at $91.02 and has rebounded back into the mid-$91.00 handle. In order to post a new all-time closing high, it needs to end the session above its all-time closing high from Thursday at $91.15.
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