Global Payments (NYSE:GPN) Stock Gets Price Target Bump from Barclays

Key Points

• Barclays raised its Global Payments price target from $89 to $97 but maintained an “equal weight” rating; the target implies about 1.3% downside from the stock’s reported $98.25 price.
• Analyst sentiment remains broadly neutral: the consensus rating is “Hold,” with a $98.07 average price target. Thirteen analysts rate the stock Buy, 17 Hold and three Sell.
• Global Payments reported quarterly EPS of $3.58, matching estimates, and revenue of $3.18 billion, also in line with expectations; revenue rose 36.1% year over year.

Global Payments (NYSE:GPN - Get Free Report) had its target price upped by research analysts at Barclays from $89.00 to $97.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the business services provider's stock. Barclays's price objective suggests a potential downside of 1.27% from the stock's current price.

Several other equities analysts have also recently commented on the stock. Truist Financial dropped their target price on shares of Global Payments from $95.00 to $86.00 and set a "hold" rating for the company in a research report on Friday, October 23rd. Robert W. Baird set a $120.00 price target on shares of Global Payments in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Global Payments from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday. The Goldman Sachs Group lifted their price objective on shares of Global Payments from $82.00 to $94.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Loop Capital began coverage on shares of Global Payments in a research report on Thursday, September 24th. They set a "buy" rating and a $137.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $98.07.

Global Payments Stock Performance

NYSE GPN traded up $0.85 on Monday, reaching $98.25. The stock had a trading volume of 283,842 shares, compared to its average volume of 3,375,836. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $26.00 billion, a P/E ratio of -21.56, a price-to-earnings-growth ratio of 0.47 and a beta of 0.83. The firm has a fifty day moving average of $86.72 and a two-hundred day moving average of $77.54. Global Payments has a 1-year low of $61.16 and a 1-year high of $101.32.

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

Hedge Funds Weigh In On Global Payments

A number of hedge funds have recently bought and sold shares of the company. Mather Group LLC. increased its stake in Global Payments by 25.2% during the 3rd quarter. Mather Group LLC. now owns 622 shares of the business services provider's stock valued at $51,000 after purchasing an additional 125 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Global Payments by 9.8% during the second quarter. IFP Advisors Inc now owns 1,433 shares of the business services provider's stock worth $104,000 after buying an additional 128 shares during the period. Cidel Asset Management Inc. lifted its stake in shares of Global Payments by 3.4% during the third quarter. Cidel Asset Management Inc. now owns 4,575 shares of the business services provider's stock worth $374,000 after buying an additional 149 shares during the period. Financial Network Wealth Advisors LLC grew its holdings in shares of Global Payments by 30.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 674 shares of the business services provider's stock valued at $55,000 after buying an additional 159 shares during the last quarter. Finally, Southern Financial Group LLC grew its holdings in shares of Global Payments by 5.1% during the first quarter. Southern Financial Group LLC now owns 3,651 shares of the business services provider's stock valued at $246,000 after buying an additional 178 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.