On February 2, 2026, Daiwa Capital Markets upgraded Visa’s rating to “Outperform” and set a price target of $370, implying a potential upside of roughly 10.8%. The firm cited Visa’s resilient fee income, robust cross-border volume trends and continued gains in credentialed payment solutions as key drivers supporting its optimistic outlook through fiscal 2026.

For the quarter ending December 31, Visa delivered net revenue of $10.9 billion, a 15% increase year-over-year, driven by a 9% rise in transactions processed (totaling 69.4 billion) and stronger holiday spending patterns. Adjusted net income grew 12% to $6.1 billion, while adjusted earnings per share climbed 15% to $3.17, exceeding the consensus estimate of $3.14. Cross-border volumes rose 12%, reflecting sustained international travel and e-commerce activity.

Visa continues to invest in digital credentialing and emerging settlement rails, including stablecoin and central bank digital currency pilots. The “Tap to Phone” initiative has now been deployed in over 50 markets, enhancing merchant acceptance without additional hardware. Institutional holdings remain high, with hedge funds and asset managers collectively owning over 80% of shares. Analysts note that Visa’s near-term revenue tailwinds and low dividend yield of approximately 0.8% underscore a capital-efficient growth profile, supporting the positive analyst revisions.