Pacific Crest analyst Josh Beck maintained a Buy rating on On Deck Capital (NYSE: ONDK) today and set a price target of $13. The business earned $3.60 billion during the quarter, compared to analysts’ expectations of $3.56 billion.
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In a research note issued to clients and investors by BMO Capital Markets on Tuesday, 3 November, Visa Inc (NYSE:V) had its target downgraded to $83.00.
Shares of Visa were up by 3.51% to $77.86 in early afternoon trading on Tuesday. The company has a market cap of $189.85 billion and a P/E ratio of 32.303. 4,509,893 shares of the company’s stock traded hands. (NYSE:V), 7 rate it “Buy”, 0 “Sell”, while 3 “Hold”. At the end of fiscal full-year 2015, there are more than 500 million Visa cards issued across Europe. The firm’s 50-day moving average price is $73.34 and its 200 day moving average price is $70.82. Visa depends more on revenue generated on the United States of America which accounted for 54 percent of revenue in fiscal 2014, compared with 39% of MasterCard. Stockholders of record on Friday, November 13th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. Nomura reiterated a “buy” rating and set a $80.75 target price on shares of Visa in a research report on Sunday, July 26th. The stock has a consensus rating of “Buy” and an average target price of $81.87. This is an increase from Visa’s previous quarterly dividend of $0.12. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have given a buy rating to the stock. This represents a $0.56 annualized dividend and a dividend yield of 0.74%.
While the purchase price for Visa Europe was higher than expected, “the structure of the transactions and potential share repurchases are also more favorable, in our view, leaving the EPS accretion from the transaction largely as forecast in the low to high single digits, all things considered” Bruce wrote in a note to clients. The Firm 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. Nicolas Huss, chief executive officer of Visa Europe said the merger of Visa Inc. and Visa Europe would form a “financial strength and operational scale necessary to accelerate the next generation of payments throughout Europe”.
Visa provides a wide variety of payment solutions that support payment products that issuers can offer to their account holders.
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The deal will also enable faster growth and adoption of mobile payments in Europe as Visa has launched new tokenization services, made strategic investments in other enabling technologies, ecommerce and P2P payment capabilities, as well as opened several global innovation centers.
