© Reuters. Baird ‘likes a lot’ about Visa (V) after a positive November trading update
Earlier this week, Visa (V) announced volume and transaction data for the first three weeks of November. The company said the U.S. payments volume is up 9% on a year-over-year (YoY) in November and up 147% compared to the same period in 2019.
“November international market payments volume growth versus the same period in 2019 was generally consistent with its historic monthly trend,” Visa said in the update.
Cross-border volume excluding intra-Europe transactions was 133% of 2019, with card not present volume excluding travel at 158% of 2019. Finally, global processed transactions rose 10% YoY and were 140% of 2019 in November.
Baird analyst David Koning said he “liked a lot” of details in Visa’s business update filing, especially as the company continues to operate in the times of increased macro uncertainty.
“We like Visa given there are several factors that can drive above-normal growth (cross-border improvement, inflation, transactions being split),” Koning wrote in a client note.
The analyst estimates that FQ1 revenue “could be trending around our estimates, if metrics hold at QTD levels through November.”
As of 08:30 EST (13:30 GMT), Visa stock is up 0.5% in pre-market Friday.
By Senad Karaahmetovic
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