RBC Sticks with Buy on Visa Amid Record Payments Volume

RBC Capital Markets maintained its Buy rating and USD 466 price target for Visa stock, according to a report released on September 28, 2026. The analyst case centers on payment volume and higher-value services, which are driving growth.

The latest quarter shows that value-added services revenue grew 34% in constant dollars to USD 3.80 billion, more than twice the 14% growth rate reported for net revenue. Visa also crossed USD 4 trillion in quarterly payments volume for the first time and processed transactions increased 10% year over year.

Visa's fiscal third-quarter net revenue reached USD 11.63 billion, up 14.40% from USD 10.17 billion a year earlier, while GAAP net income rose to USD 5.63 billion from USD 5.27 billion. The company has a second quantified growth engine alongside the core network, with Visa Direct transactions growing 21% year over year to USD 4.00 billion in fiscal Q3 2026.