Why Visa Stock Dropped Today
Shares of financial powerhouse Visa (NYSE: V) slipped 1.8% in noonday trading ET on Wednesday, after releasing data on its transactions and payments volume in the U.S. yesterday.
U.S. payments volume grew 5% year over year in May, with credit card usage up 5% and debit 6%. "Card-not-present" transactions in particular, which generally refer to credit or debit card transactions done over the phone or over the internet, grew 7%.
That 7% growth, by the way, contrasts strongly with growth in card yes-present transactions -- essentially in-person purchases -- which grew only 3%. In that regard, Visa's news may actually be of greater interest to investors in e-commerce businesses (where business is still booming) as opposed to brick-and-mortar businesses (where growth evidently wasn't so robust) -- as a gauge of which segment of the economy is growing faster.
Source Fool.com
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As a result the target price of 280 € shows a slightly positive potential of 13.64% compared to the current price of 246.4 € for Visa Inc. A.
