Visa Makes Analytical Play With GoodData Investment

Visa (V) has announced an investment and strategic partnership with GoodData, a cloud-based global analytics company.

“With insights from data, we can help sellers, financial institutions and Visa’s extended global business network better understand and meet consumer needs, especially when those needs are changing fast,” said Melissa McSherry, SVP and head of Data, Security, and Identity products at Visa. “Our partnership with GoodData will allow us to do that.”

Last month, GoodData helped develop and launch the COVID-19 Commerce Insight project to analyze a billion engagements and 400 million transactions showing the impact of COVID-19 on global and regional consumer spending.

For instance, the project reveals that global e-commerce sales have been growing consistently at a rate of 10-20% in recent years. However, over the recent months, e-commerce sales are doubling from the previous period last year.

GoodData also recently launched freemium and growth-pricing tiers to allow more companies to start and grow data-led businesses.

Shares in Visa have made a marginal gain of 3% since the beginning of the year, but analysts remain bullish on the stock’s potential. The Strong Buy analyst consensus is down to 17 buys and 5 hold ratings, while the average analyst price target stands at $199.

“While the depth/duration of COVID-19 headwinds are hard to handicap we remain confident in V’s intermediate/long-term potential” cheered Oppenheimer analyst Glenn Greene, noting that V saw some signs of stabilization/improvement in late April.

He says the stock has one of the most attractive business models under his coverage with a powerful brand, vast global acceptance network, and strong business model- and bumped up his price target from $175 to $190. (See V stock analysis on TipRanks).

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