JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Global Payments (NYSE:GPN) Stock

Key Points

• JPMorgan Chase & Co. raised its target price for Global Payments (NYSE:GPN) from $85.00 to $95.00, indicating a potential upside of 16.01% from its current price.
• Global Payments reported earnings of $3.10 per share, surpassing estimates of $3.06, with a revenue of $2.36 billion for the quarter.
• Currently, the stock has an average rating of "Hold," with one sell rating, eighteen hold ratings, and twelve buy ratings given by analysts.

Global Payments (NYSE:GPN - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $85.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 16.01% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Citigroup reissued a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. B. Riley reiterated a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. Cowen lowered shares of Global Payments from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Evercore ISI began coverage on shares of Global Payments in a research report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price objective for the company. Finally, Robert W. Baird lowered their target price on Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $112.00.

Global Payments Stock Performance

Global Payments stock traded down $3.65 during midday trading on Thursday, hitting $81.89. The stock had a trading volume of 2,549,595 shares, compared to its average volume of 2,812,906. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. Global Payments has a 52-week low of $65.93 and a 52-week high of $120.00. The company has a market capitalization of $19.97 billion, a PE ratio of 13.21, a P/E/G ratio of 0.75 and a beta of 0.93. The firm's fifty day moving average is $79.56 and its two-hundred day moving average is $88.15.

Global Payments (NYSE:GPN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The firm had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year. On average, research analysts forecast that Global Payments will post 11.89 EPS for the current year.

Institutional Trading of Global Payments

A number of hedge funds have recently made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Global Payments by 0.4% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock valued at $3,795,000 after purchasing an additional 122 shares during the period. LRI Investments LLC lifted its holdings in shares of Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider's stock worth $31,000 after buying an additional 133 shares during the period. Perigon Wealth Management LLC raised its stake in Global Payments by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock worth $385,000 after buying an additional 144 shares in the last quarter. Transcend Capital Advisors LLC boosted its stake in Global Payments by 7.9% in the first quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock valued at $209,000 after acquiring an additional 157 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Global Payments by 5.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider's stock valued at $242,000 after purchasing an additional 158 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.