"So far this year, Visa Inc. ( NYSE: V) has unveiled a scam disruption initiative, adoption of its "Tap to Phone" technology has soared, it unveiled its vision for artificial intelligence (AI) in commerce, and it expanded its capabilities in the digital currency space. Fiscal third-quarter results exceeded Wall Street estimates, showing that consumer spending remains resilient. The company also announced a $30 billion share buyback plan. All this has helped buoy the stock despite economic uncertainty."
"The share price hit an all-time high above $375 in June, but now it is 2.6% lower than six months ago, underperforming the S&P 500. Since Visa's initial public offering, the stock has risen by about 2,090%. About half of that gain has come in the past five years. The question for investors is where the stock goes from here."
"Why Invest in Visa? Despite the rapidly evolving landscape of the payments industry, Visa retains its preeminent dominance. The transaction processing behemoth was founded in 1958, but it did not go public until 50 years later when it issued 408 million shares at $44 each and raised $17.9 billion. It was the largest public offering in history at that time. Since then, Visa's dominance has only grown."
Visa unveiled a scam disruption initiative, saw adoption of its "Tap to Phone" technology soar, presented a vision for artificial intelligence in commerce, and expanded digital currency capabilities. Fiscal third-quarter results exceeded Wall Street estimates and showed resilient consumer spending. The company announced a $30 billion share buyback plan. The share price reached an all-time high above $375 in June but is 2.6% lower than six months earlier and has underperformed the S&P 500. Since the IPO, the stock has risen about 2,090%, with roughly half of that gain in the past five years. Visa connects about 100 million merchants, 15,000 banks, and over 4.5 billion cards.
Read at 24/7 Wall St.
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