Corpay (NYSE:CPAY) Given a $356.00 Price Target by Morgan Stanley Analysts

Key Points

• Morgan Stanley has reduced its price target for Corpay (NYSE:CPAY) from $360.00 to $356.00, maintaining an "equal weight" rating on the stock.
• Corpay's current price offers a potential upside of 17.99%, with an average target price among analysts of $396.33 and a consensus rating of "Moderate Buy."
• The company's earnings report showed a 12.9% year-over-year revenue increase and an earnings per share of $5.13, exceeding analyst expectations.

Corpay (NYSE:CPAY - Get Free Report) has been given a $356.00 price target by Morgan Stanley in a report released on Monday, Marketbeat reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 15.11% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Oppenheimer began coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating for the company. Barclays decreased their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, UBS Group decreased their price target on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $396.33.

Corpay Trading Up 1.8%

Corpay stock traded up $5.50 during mid-day trading on Monday, hitting $309.27. The company's stock had a trading volume of 575,178 shares, compared to its average volume of 498,166. The company has a 50 day moving average of $328.85 and a 200-day moving average of $337.55. The stock has a market cap of $21.84 billion, a PE ratio of 21.01, 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 quick ratio of 1.12 and a current ratio of 1.12. Corpay has a one year low of $269.02 and a one year high of $400.81.

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

Hedge Funds Weigh In On Corpay

Several large investors have recently modified their holdings of CPAY. CVA Family Office LLC grew its stake in shares of Corpay by 56.7% in the second quarter. CVA Family Office LLC now owns 94 shares of the company's stock worth $31,000 after acquiring an additional 34 shares in the last quarter. Colonial Trust Co SC raised its position in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in Corpay in the 2nd quarter valued at about $33,000. Ameritas Advisory Services LLC acquired a new stake in Corpay in the 2nd quarter valued at about $37,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Corpay in the 1st quarter valued at about $41,000. Institutional investors and hedge funds 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.