Corpay (NYSE:CPAY) Given a $392.00 Price Target by Raymond James Financial Analysts

Key Points

• Corpay's price target was cut by Raymond James Financial from $414.00 to $392.00, indicating a potential upside of 26.09% from its previous close.
• The company is rated as a "Moderate Buy" by analysts, with an average price target of $399.60 based on various research reports.
• Corpay reported earnings of $5.13 per share, surpassing estimates and showcasing a year-over-year revenue increase of 12.9%.

Corpay (NYSE:CPAY - Get Free Report) received a $392.00 price target from investment analysts at Raymond James Financial in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 29.04% from the stock's previous close.

CPAY has been the subject of several other reports. Barclays reduced their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wells Fargo & Company cut their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. UBS Group dropped their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Finally, Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $396.33.

Corpay Price Performance

NYSE:CPAY traded up $2.08 during trading hours on Thursday, reaching $303.78. 237,070 shares of the company traded hands, compared to its average volume of 495,678. The firm's 50-day moving average is $329.21 and its 200-day moving average is $338.07. The stock has a market cap of $21.45 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.14 and a beta of 0.96. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay has a 1-year low of $269.02 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $4.55 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that Corpay will post 19.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corpay

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPAY. Atria Wealth Solutions Inc. grew its holdings in shares of Corpay by 4.7% during the second quarter. Atria Wealth Solutions Inc. now owns 695 shares of the company's stock valued at $231,000 after buying an additional 31 shares during the last quarter. Meeder Advisory Services Inc. raised its position in Corpay by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock worth $236,000 after acquiring an additional 32 shares during the period. Townsquare Capital LLC raised its position in Corpay by 0.7% in the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock worth $1,576,000 after acquiring an additional 32 shares during the period. Fulton Bank N.A. raised its position in Corpay by 2.1% in the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock worth $581,000 after acquiring an additional 34 shares during the period. Finally, Wedmont Private Capital raised its position in Corpay by 3.2% in the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock worth $387,000 after acquiring an additional 34 shares during the period. Institutional investors own 98.84% of the company's stock.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.