Global Payments (NYSE:GPN) Given New $100.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its Global Payments price target from $95 to $100 but maintained a neutral rating; the new target suggests 2.65% upside from the previous close.
• Analyst sentiment is broadly neutral: MarketBeat reports an average rating of “Hold” and an average price target of $97.79, with 13 Buy, 17 Hold, and 3 Sell ratings.
• Global Payments’ latest quarter met consensus estimates, reporting EPS of $3.58 and revenue of $3.18 billion; revenue increased 36.1% year over year.

Global Payments (NYSE:GPN - Get Free Report) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $95.00 to $100.00 in a report issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 2.65% from the stock's previous close.

Several other analysts have also commented on the company. The Goldman Sachs Group lifted their price objective on Global Payments from $82.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. William Blair reissued a "market perform" rating on shares of Global Payments in a report on Friday, October 30th. Argus set a $110.00 target price on Global Payments and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wolfe Research restated an "outperform" rating and set a $125.00 price target (up from $110.00) on shares of Global Payments in a research note on Tuesday, August 25th. Finally, Jefferies Financial Group raised shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $97.79.

Global Payments Trading Up 0.0%

NYSE:GPN opened at $97.42 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. Global Payments has a 12 month low of $61.16 and a 12 month high of $101.32. The company has a market cap of $25.78 billion, a PE ratio of -21.36, a price-to-earnings-growth ratio of 0.47 and a beta of 0.83. The company has a 50 day simple moving average of $86.72 and a two-hundred day simple moving average of $77.54.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Thursday, November 5th. The business services provider reported $3.58 earnings per share for the quarter, meeting analysts' consensus estimates of $3.58. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. Global Payments had a negative net margin of 11.21% and a positive return on equity of 14.43%. The company's quarterly revenue was up 36.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.26 EPS. Research analysts forecast that Global Payments will post 13.65 earnings per share for the current year.

Hedge Funds Weigh In On Global Payments

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gtcr LLC purchased a new stake in Global Payments in the first quarter worth about $2,911,939,000. Pzena Investment Management LLC bought a new position in shares of Global Payments in the second quarter worth about $848,344,000. Deutsche Bank AG purchased a new position in shares of Global Payments during the 2nd quarter valued at about $138,781,000. Legal & General Group Plc purchased a new position in shares of Global Payments during the 2nd quarter valued at about $120,036,000. Finally, Davis Asset Management L.P. purchased a new position in shares of Global Payments during the 2nd quarter valued at about $107,752,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

About Global Payments

Global Payments Inc is a payment technology and software company that helps businesses accept and manage payments. Its services support in-person, online and mobile transactions, along with point-of-sale systems and software for business operations.

The company also provides technology to financial institutions and other organizations that issue payment cards. Its services include card processing, account management and related digital tools.

Global Payments serves customers across a range of industries and operates internationally, with services available in many countries.

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