Global Payments (NYSE:GPN) Raised to Outperform at Mizuho

Key Points

• Mizuho upgraded Global Payments from a "neutral" rating to an "outperform" rating, raising the target price to $114.00, indicating a potential upside of 37.12%.
• Global Payments' average rating is "Hold" with various analysts providing mixed target price adjustments, indicating a range of $100.00 to $145.00.
• Recent quarterly earnings showed $2.82 EPS, exceeding estimates, but a 0.3% decline in revenue year-over-year, highlighting ongoing challenges despite earnings performance.

Global Payments (NYSE:GPN - Get Free Report) was upgraded by Mizuho from a "neutral" rating to an "outperform" rating in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a $114.00 target price on the business services provider's stock, up from their previous target price of $86.00. Mizuho's price target suggests a potential upside of 37.12% from the company's previous close.

Several other analysts have also weighed in on the stock. Robert W. Baird lowered their target price on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods upped their price target on shares of Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Truist Financial upped their price target on shares of Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Cowen lowered shares of Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, TD Cowen upgraded shares of Global Payments from a "hold" rating to a "buy" rating and set a $84.00 price target for the company in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Global Payments has an average rating of "Hold" and an average target price of $111.65.

Global Payments Stock Down 0.9%

Shares of NYSE:GPN opened at $83.14 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $78.70 and a 200 day simple moving average of $89.85. The firm has a market cap of $20.28 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. Global Payments has a 12-month low of $65.93 and a 12-month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The business's revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 earnings per share. On average, equities research analysts anticipate that Global Payments will post 11.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Payments

A number of institutional investors and hedge funds have recently bought and sold shares of GPN. AIA Group Ltd purchased a new stake in shares of Global Payments during the fourth quarter valued at $349,000. Oribel Capital Management LP lifted its stake in Global Payments by 495.1% during the fourth quarter. Oribel Capital Management LP now owns 521,300 shares of the business services provider's stock valued at $58,417,000 after buying an additional 433,700 shares in the last quarter. Bridgewater Associates LP lifted its stake in Global Payments by 88.6% during the fourth quarter. Bridgewater Associates LP now owns 892,958 shares of the business services provider's stock valued at $100,065,000 after buying an additional 419,443 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Global Payments during the fourth quarter valued at about $1,708,000. Finally, Geode Capital Management LLC lifted its stake in Global Payments by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider's stock valued at $696,362,000 after buying an additional 301,877 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.

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