Visa and Veeva Systems see positive market movement

Visa reported third-quarter earnings that exceeded market expectations, driven by a 12 percent increase in cross-border payment volumes and a 16 percent rise in e-commerce activity. The company reported earnings per share of $3.32, surpassing the consensus of $3.23, with total revenue growing 14.4 percent to $11.63 billion. Following these results and news regarding US visa policy shifts, Visa shares reached a new all-time high. The company also announced $28.4 billion in share buybacks.

Veeva Systems saw its price target raised by Canaccord Genuity Group from $220 to $260, maintaining a “hold” rating. Other financial institutions have also adjusted their outlooks for the technology company, with targets ranging from $225 to $310. The stock recently traded at $287.12.