Visa Inc. · V · FY2026 Q4 · Calendar Q4 2026
Visa reports strong FY2026 growth as tokenization expands
Visa's FY2026 results support a constructive growth thesis: resilient payments activity, value-added services, tokenization, and new stablecoin products are expanding the platform. The main qualification is that agentic commerce and token-based products remain early, while regulation, pricing, geopolitics, and consumer spending remain risks.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Management highlighted record FY2026 net revenue growth, stronger value-added services, broader tokenized commerce, and new stablecoin-linked products. It also described continued investment in VisaNet, on-chain infrastructure, and agentic commerce.
Guidance delta
Guidance sentiment was maintained. Management expressed confidence in low-double-digit revenue growth for 2027.
Key takeaways
- FY2026 net revenue grew 15%, with Q4 growth of 13%, according to the supplied transcript analysis.
- Value-added services revenue grew 30%, supported by cybersecurity offerings and tokenization.
- Visa launched a stablecoin-linked Flex Credential in Europe and said it supports 10 blockchains and five stablecoins in settlement.
- Cross-border travel and e-commerce remained robust, while tokenized e-commerce reached 200 territories.
Management priorities
- Expand Visa Flex Credential and the Visa Stablecoin Platform into additional markets.
- Invest in VisaNet security, resilience, and cloud-native architecture.
- Accelerate agentic commerce and AI-driven product development.
- Deepen credential and token adoption across emerging and lower-to-middle-market businesses.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Susquehanna | Positive | Positive | Maintain | Oct 26, 2026 |
| Truist Securities | Buy | Buy | Maintain | Oct 23, 2026 |
| Baird | Outperform | Outperform | Maintain | Oct 12, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 31, 2026 |
| Wolfe Research | Outperform | Outperform | Maintain | Aug 25, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 3, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 30, 2026 |
| UBS | Buy | Buy | Maintain | Jul 29, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 29, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 29, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 29, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 29, 2026 |
| Macquarie | Outperform | Outperform | Maintain | Apr 30, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Apr 29, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Apr 29, 2026 |
| Freedom Capital Markets | Buy | Hold | Upgrade | Feb 17, 2026 |
| Freedom Broker | Buy | Hold | Upgrade | Feb 17, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jan 30, 2026 |
| B of A Securities | Buy | Neutral | Upgrade | Dec 11, 2025 |
| HSBC | Buy | Hold | Upgrade | Dec 8, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Oct 29, 2025 |
| Barclays | Overweight | Overweight | Maintain | Jul 31, 2025 |
| Mizuho | Outperform | Neutral | Upgrade | Jun 5, 2025 |
| Jefferies | Buy | Buy | Maintain | May 27, 2025 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jan 31, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 31, 2025 |
| Seaport Global | Buy | Neutral | Upgrade | Jan 14, 2025 |
| TD Cowen | Buy | Buy | Maintain | Oct 30, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 30, 2024 |
| Wedbush | Outperform | Outperform | Maintain | Apr 24, 2024 |
| Redburn Atlantic | Neutral | Buy | Downgrade | Mar 27, 2024 |
| Keybanc | Overweight | Overweight | Maintain | Jan 8, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 26, 2023 |
| Bernstein | Outperform | Outperform | Maintain | Apr 19, 2023 |
| Daiwa Capital | Neutral | Outperform | Downgrade | Aug 12, 2021 |
| Stephens & Co. | Overweight | Overweight | Maintain | May 4, 2021 |
| Cowen & Co. | Outperform | Outperform | Maintain | May 20, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 1, 2020 |
| Nomura | Buy | Buy | Maintain | Apr 9, 2020 |
| Bank of America | Buy | Buy | Maintain | Aug 13, 2018 |
| Buckingham Research | Buy | Buy | Maintain | Jun 26, 2018 |
| Buckingham | Buy | Buy | Maintain | Jun 26, 2018 |
| Argus Research | Buy | Buy | Maintain | Apr 27, 2018 |
| Argus | Buy | Buy | Maintain | Apr 27, 2018 |
| PiperJaffray | Overweight | Overweight | Maintain | Feb 2, 2018 |
| DZ Bank | Hold | Buy | Downgrade | Jan 24, 2018 |
| Loop Capital | Buy | Buy | Maintain | Oct 26, 2017 |
| Guggenheim | Buy | Neutral | Upgrade | Dec 5, 2016 |
| Drexel Hamilton | Hold | Hold | Maintain | Oct 24, 2016 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Dec 8, 2015 |
| Pacific Crest | Overweight | Overweight | Maintain | Nov 3, 2015 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jan 30, 2015 |
| Stifel | Buy | Buy | Maintain | Jan 30, 2015 |
| FBR Capital | Market Perform | Outperform | Downgrade | Jan 30, 2015 |
| Sterne Agee | Buy | Buy | Maintain | Nov 11, 2014 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Apr 15, 2014 |
| Janney Capital | Buy | Neutral | Upgrade | Apr 15, 2014 |
| Argus Capital | Hold | Buy | Downgrade | Mar 1, 2013 |
| Meredith Whitney Advisory Group | Outperform | Outperform | Maintain | May 3, 2012 |
| Canaccord Genuity | Neutral | Neutral | Maintain | May 3, 2012 |
| Morgan Keegan | Outperform | Outperform | Maintain | Feb 9, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $401.86. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Susquehanna | James Friedman | $480 | $407.92 | +19.4% | Oct 26, 2026 |
| Truist Financial | Matthew Coad | $443 | $414.34 | +10.2% | Oct 23, 2026 |
| BMO Capital | Analyst unavailable | $425 | $397.58 | +5.8% | Oct 15, 2026 |
| Robert W. Baird | Analyst unavailable | $430 | $385.45 | +7.0% | Oct 12, 2026 |
| RBC Capital | Daniel Perlin | $466 | $381.6 | +16.0% | Aug 31, 2026 |
| Wolfe Research | Analyst unavailable | $460 | $382.41 | +14.5% | Aug 25, 2026 |
| Truist Financial | Analyst unavailable | $406 | $370.42 | +1.0% | Aug 5, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $445 | $370.38 | +10.7% | Aug 3, 2026 |
| Wells Fargo | Jason Kupferberg | $432 | $368.73 | +7.5% | Jul 30, 2026 |
| Cantor Fitzgerald | Ramsey El-Assal | $410 | $371.14 | +2.0% | Jul 29, 2026 |
| RBC Capital | Analyst unavailable | $412 | $368.1 | +2.5% | Jul 29, 2026 |
| BMO Capital | Analyst unavailable | $405 | $367.17 | +0.8% | Jul 29, 2026 |
| Piper Sandler | Bill Carcache | $430 | $366.59 | +7.0% | Jul 29, 2026 |
| Susquehanna | Analyst unavailable | $427 | $366.59 | +6.3% | Jul 29, 2026 |
| UBS | Analyst unavailable | $420 | $366.59 | +4.5% | Jul 29, 2026 |
| Wolfe Research | Darrin Peller | $435 | $366.59 | +8.2% | Jul 29, 2026 |
| Morgan Stanley | James Faucette | $416 | $366.59 | +3.5% | Jul 29, 2026 |
| Raymond James | Madison Suhr | $406 | $366.59 | +1.0% | Jul 29, 2026 |
| Deutsche Bank | Nate Svensson | $430 | $366.59 | +7.0% | Jul 29, 2026 |
| Truist Financial | Analyst unavailable | $394 | $351.6 | -2.0% | Jul 24, 2026 |
| BMO Capital | Analyst unavailable | $387 | $356.84 | -3.7% | Jul 15, 2026 |
| Barclays | Nik Cremo | $420 | $352.2 | +4.5% | Jul 8, 2026 |
| Robert W. Baird | Analyst unavailable | $412 | $357.25 | +2.5% | Jul 6, 2026 |
| Piper Sandler | Analyst unavailable | $394 | $341.65 | -2.0% | Jun 29, 2026 |
| Bernstein | Harshita Rawat | $450 | $317.99 | +12.0% | Jun 2, 2026 |
| Truist Financial | Matthew Coad | $371 | $323.86 | -7.7% | May 12, 2026 |
| Raymond James | Analyst unavailable | $389 | $336.19 | -3.2% | Apr 29, 2026 |
| Evercore ISI | Analyst unavailable | $350 | $335.12 | -12.9% | Apr 29, 2026 |
| Oppenheimer | Analyst unavailable | $403 | $336.88 | +0.3% | Apr 29, 2026 |
| Morgan Stanley | Analyst unavailable | $415 | $334.37 | +3.3% | Apr 29, 2026 |
| Truist Financial | Analyst unavailable | $361 | $306.68 | -10.2% | Apr 24, 2026 |
| BMO Capital | Analyst unavailable | $365 | $309.94 | -9.2% | Apr 21, 2026 |
| Truist Financial | Matthew Coad | $372 | $328.74 | -7.4% | Feb 10, 2026 |
| Daiwa | Analyst unavailable | $370 | $333.84 | -7.9% | Feb 2, 2026 |
| Morgan Stanley | Analyst unavailable | $411 | $331.8 | +2.3% | Jan 30, 2026 |
| Piper Sandler | Analyst unavailable | $160 | $325.26 | -60.2% | Jan 28, 2026 |
| Redburn Partners | Analyst unavailable | $385 | $325.26 | -4.2% | Jan 28, 2026 |
| Cantor Fitzgerald | Ramsey El-Assal | $400 | $328.49 | -0.5% | Jan 26, 2026 |
| Truist Financial | Analyst unavailable | $374 | $326.43 | -6.9% | Jan 20, 2026 |
| Evercore ISI | Analyst unavailable | $380 | $345.65 | -5.4% | Dec 12, 2025 |
| HSBC | Saul Martinez | $389 | $331.24 | -3.2% | Dec 7, 2025 |
| UBS | Analyst unavailable | $425 | $346.9 | +5.8% | Oct 29, 2025 |
| Robert W. Baird | Analyst unavailable | $425 | $346.9 | +5.8% | Oct 29, 2025 |
| Morgan Stanley | James Faucette | $398 | $349.5 | -1.0% | Oct 29, 2025 |
| KeyBanc | Andrew Schmidt | $405 | $347.21 | +0.8% | Oct 22, 2025 |
| Wells Fargo | Analyst unavailable | $412 | $347.21 | +2.5% | Oct 21, 2025 |
| Robert W. Baird | David Koning | $410 | $349.84 | +2.0% | Oct 6, 2025 |
| Barclays | Ramsey El-Assal | $408 | $350.91 | +1.5% | Jul 31, 2025 |
| UBS | Analyst unavailable | $415 | $350.91 | +3.3% | Jul 30, 2025 |
| Mizuho Securities | Dan Dolev | $425 | $366.77 | +5.8% | Jun 5, 2025 |
| Truist Financial | Matthew Coad | $400 | $363.13 | -0.5% | Jun 2, 2025 |
| Barclays | Ramsey El-Assal | $361 | $311.67 | -10.2% | Jan 14, 2025 |
| Morgan Stanley | James Faucette | $371 | $309.78 | -7.7% | Dec 18, 2024 |
| Susquehanna | James Friedman | $375 | $313.79 | -6.7% | Dec 11, 2024 |
| Macquarie | Paul Golding | $335 | $290.16 | -16.6% | Oct 30, 2024 |
| Piper Sandler | Arvind Ramnani | $322 | $281.88 | -19.9% | Oct 30, 2024 |
| Deutsche Bank | Bryan Keane | $340 | $281.88 | -15.4% | Oct 30, 2024 |
| Citigroup | Ashwin Shirvaikar | $326 | $281.88 | -18.9% | Oct 30, 2024 |
| Robert W. Baird | David Koning | $330 | $287.52 | -17.9% | Oct 17, 2024 |
| Williams Trading | Trevor Williams | $320 | $277.84 | -20.4% | Oct 14, 2024 |
| Oppenheimer | Rayna Kumar | $318 | $274.95 | -20.9% | Sep 30, 2024 |
| Citigroup | Andrew Schmidt | $319 | $288.63 | -20.6% | Sep 24, 2024 |
| Compass Point | Dominick Gabriele | $319 | $278.54 | -20.6% | Sep 4, 2024 |
| BNP Paribas | Alexandre Faure | $325 | $276.37 | -19.1% | Sep 3, 2024 |
| RBC Capital | Daniel Perlin | $315 | $254.92 | -21.6% | Jul 24, 2024 |
| Piper Sandler | Arvind Ramnani | $319 | $264.79 | -20.6% | Jul 24, 2024 |
| Barclays | Ramsey El-Assal | $319 | $272.46 | -20.6% | Jun 3, 2024 |
| BMO Capital | Rufus Hone | $300 | $279.84 | -25.3% | May 17, 2024 |
| Bernstein | Harshita Rawat | $310 | $275.02 | -22.9% | Apr 25, 2024 |
| DNB Markets | Sanjay Sakhrani | $325 | $276.02 | -19.1% | Apr 24, 2024 |
| Macquarie | Paul Golding | $300 | $275.95 | -25.3% | Apr 24, 2024 |
| Robert W. Baird | David Koning | $320 | $271.35 | -20.4% | Apr 17, 2024 |
| Oppenheimer | Dominick Gabriele | $297 | $274.98 | -26.1% | Feb 12, 2024 |
| BMO Capital | Rufus Hone | $280 | $259.16 | -30.3% | Dec 27, 2023 |
| Wedbush | Nick Setyan | $275 | $241.2 | -31.6% | Oct 18, 2023 |
| Citigroup | Ashwin Shirvaikar | $275 | $237.1 | -31.6% | Jul 26, 2023 |
| Morgan Stanley | James Faucette | $290 | $241.77 | -27.8% | Jul 19, 2023 |
| BMO Capital | James Fotheringham | $253 | $232.76 | -37.0% | Apr 25, 2023 |
| UBS | Analyst unavailable | $287 | $207.91 | -28.6% | Dec 15, 2022 |
| Wells Fargo | Analyst unavailable | $250 | $215.34 | -37.8% | Dec 2, 2022 |
| Mizuho Securities | Dan Dolev | $220 | $206.92 | -45.3% | Nov 1, 2022 |
| Credit Suisse | Moshe Orenbuch | $245 | $203.35 | -39.0% | Oct 26, 2022 |
| Morgan Stanley | Analyst unavailable | $282 | $180.75 | -29.8% | Oct 3, 2022 |
| BMO Capital | Analyst unavailable | $257 | $210.47 | -36.0% | Jul 28, 2022 |
| Barclays | Analyst unavailable | $271 | $210.47 | -32.6% | Jul 28, 2022 |
| Raymond James | Analyst unavailable | $262 | $210.47 | -34.8% | Jul 28, 2022 |
| Morgan Stanley | Analyst unavailable | $291 | $215.68 | -27.6% | Jul 27, 2022 |
| UBS | Analyst unavailable | $296 | $212.49 | -26.3% | Jul 27, 2022 |
| Macquarie | Analyst unavailable | $260 | $212.49 | -35.3% | Jul 27, 2022 |
| Oppenheimer | Analyst unavailable | $242 | $213.7 | -39.8% | Jul 25, 2022 |
| Robert W. Baird | David Koning | $265 | $213.66 | -34.1% | Jul 20, 2022 |
| Wells Fargo | Analyst unavailable | $255 | $200.79 | -36.5% | Jul 13, 2022 |
| Piper Sandler | Analyst unavailable | $204 | $200.54 | -49.2% | Jul 6, 2022 |
| Mizuho Securities | Analyst unavailable | $215 | $195.32 | -46.5% | Jul 1, 2022 |
| Evercore ISI | David Togut | $310 | $190.69 | -22.9% | May 12, 2022 |
| Barclays | Analyst unavailable | $263 | $208.06 | -34.6% | May 2, 2022 |
| Robert W. Baird | David Koning | $290 | $208.49 | -27.8% | May 2, 2022 |
| Morgan Stanley | James Faucette | $284 | $216.11 | -29.3% | Apr 27, 2022 |
| Credit Suisse | Analyst unavailable | $265 | $218.37 | -34.1% | Apr 27, 2022 |
| Citigroup | Ashwin Shirvaikar | $265 | $209.95 | -34.1% | Apr 25, 2022 |
| Morgan Stanley | Analyst unavailable | $279 | $217.79 | -30.6% | Apr 21, 2022 |
| Wells Fargo | Donald Fandetti | $280 | $212.79 | -30.3% | Apr 15, 2022 |
| Barclays | Ramsey El-Assal | $260 | $226.09 | -35.3% | Apr 5, 2022 |
| UBS | Rayna Kumar | $303 | $222.69 | -24.6% | Feb 21, 2022 |
| Mizuho Securities | Dan Dolev | $235 | $228.39 | -41.5% | Feb 6, 2022 |
| Wedbush | Moshe Katri | $270 | $227.63 | -32.8% | Jan 28, 2022 |
| BMO Capital | James Fotheringham | $247 | $227.63 | -38.5% | Jan 28, 2022 |
| Susquehanna | James Friedman | $290 | $227.63 | -27.8% | Jan 28, 2022 |
| Piper Sandler | Christopher Donat | $283 | $227.63 | -29.6% | Jan 28, 2022 |
| Raymond James | John Davis | $281 | $227.63 | -30.1% | Jan 28, 2022 |
| Evercore ISI | David Togut | $312 | $227.63 | -22.4% | Jan 28, 2022 |
| BNP Paribas | Alexandre Faure | $210 | $211.62 | -47.7% | Jan 10, 2022 |
| Citigroup | Ashwin Shirvaikar | $285 | $209.13 | -29.1% | Oct 28, 2021 |
| Bank of America Securities | Jason Kupferberg | $279 | $227.54 | -30.6% | Sep 23, 2021 |
| Credit Suisse | Moshe Orenbuch | $285 | $224.35 | -29.1% | Sep 3, 2021 |
| Daiwa | Kazuya Nishimura | $250 | $231.01 | -37.8% | Aug 12, 2021 |
| Compass Point | Michael Del Grosso | $290 | $245.77 | -27.8% | Jul 28, 2021 |
| Truist Financial | Andrew Jeffrey | $275 | $245.77 | -31.6% | Jul 28, 2021 |
| Goldman Sachs | Matthew O’Neill | $264 | $241.55 | -34.3% | Jul 20, 2021 |
| Oppenheimer | Dominick Gabriele | $281 | $237.34 | -30.1% | Jul 9, 2021 |
| Stephens | Brett Huff | $259 | $230.6 | -35.5% | May 4, 2021 |
| Argus Research | Stephen Biggar | $270 | $235.4 | -32.8% | Apr 29, 2021 |
| MoffettNathanson | Lisa Elis | $270 | $232.01 | -32.8% | Apr 28, 2021 |
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Start freeCompany context
Snapshot as of publicationVisa Inc. functions globally as a leading technology company dedicated to payments. Its primary role is to enable the secure and efficient digital transfer of funds among a wide array of participants, including individual consumers, retail businesses, banking institutions, corporations, strategic partners, and governmental bodies. At the heart of its operations is VisaNet, a highly sophisticated transaction processing network that handles the critical functions of authorizing, clearing, and settling all payment transactions.…
Historical context
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Latest beats and misses
Who reports nextBeat on EPS
- HOODFY2026 Q3 · October 27, 2026+7.5% EPS+1.9% move
- PCARFY2026 Q3 · October 27, 20260.0% EPS-0.6% move
- FCXFY2026 Q3 · October 27, 2026+8.0% EPS+1.2% move
- HUBBFY2026 Q3 · October 27, 2026+2.8% EPS-5.5% move
- RCLFY2026 Q3 · October 27, 2026+3.0% EPS+5.5% move
- AITFY2027 Q1 · October 27, 2026+2.8% EPS-8.3% move
Missed on EPS
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
- AREFY2026 Q3 · October 26, 2026-13401.8% EPS-5.9% move
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Sources
- Earnings call transcript and parsed analysis · 2026-10-28T04:05:21.118267+00:00
- FN2 earnings calendar · 2026-10-28T01:23:13.546025+00:00
- Polygon adjusted daily market bars · 2026-10-28T07:20:41.498227+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T07:20:41.495559+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.