10 Best Stocks To Invest In According to Billionaires

7. Visa Inc. (NYSE:V)

Number of Billionaire Investors: 23

Visa Inc. (NYSE:V), a global leader in digital payments, facilitates transactions across more than 200 markets. Connecting 4 billion account holders with over 130 million merchants and 14,500 financial institutions, Visa Inc. (NYSE:V) plays a crucial role in powering the global economy.

For the third fiscal quarter of 2024, Visa Inc. (NYSE:V) reported adjusted earnings per share of $2.42, up from $2.16 in the previous year, with payment volumes increasing by 7%. The company reaffirmed its full-year 2024 outlook, expecting low double-digit revenue growth and a low-teens EPS increase. In addition, the company’s service revenue rose 8% to $4 billion, while data processing revenue and international transaction revenue climbed 9% to $4.5 billion and $3.2 billion, respectively. Additionally, other revenue surged 31% year-over-year.

Compass Point recently initiated coverage on Visa Inc. (NYSE:V) with a Buy rating and a price target of $319, suggesting an 18.5% potential upside from its current price and an estimated total return of about 20%. The firm’s optimism is driven by Visa’s value-added services, with Compass Point projecting long-term net revenue growth of 15% as more customers adopt these offerings.

By the end of Q2 2024, 23 billionaires held stakes in Visa Inc. (NYSE:V), with Chris Hohn being the largest shareholder, holding stakes valued at $4.4 billion.

Wedgewood Partners stated the following regarding Visa Inc. (NYSE:V) in its Q2 2024 investor letter:

“Visa Inc. (NYSE:V) detracted from performance despite healthy corporate results. The company grew earnings per share +12% as payment volume growth was up +8% and cross-border payment grew +16%, adjusted for currency. There are over 4.4 billion Visa debit and credit cards in circulation generating over $15 trillion in volume over the past 12 months. There is another estimated $10 trillion in cash and check volume, globally, which we think Visa can continue to move over to its electronic payment rails. In addition, the company has spent the past several years extending its payment capabilities into new flows of commerce, particularly for business-to-business transactions. This is another, extremely large (+$200 trillion) long-term growth opportunity for Visa that we believe investors are ignoring.”