CFRA analyst David Holt maintained a Hold rating on Global Payments Inc (NYSE: GPN) on July 28 and set a price target of $119. The company’s shares opened today at $119.18, close to its 52-week high of $121.
Holt wrote:
“Following a rise in revenue of 31% in 2016 (reflecting its Heartland Payments acquisition in late 2015), we saw a lift of 24% in 2017. Looking ahead to 2018, we see growth of 12%, as M&A (ACTIVE Network) helps offset impacts from adopting ASC 606 standards (net recognition of network and interchange fees). North America growth remains robust (mid-teens), but we expect the wholesale business to be a drag.”
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Global Payments Inc with a $129.67 average price target.
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The company has a one-year high of $121 and a one-year low of $92.82. Currently, Global Payments Inc has an average volume of 1.01M.
Based on the recent corporate insider activity of 121 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Ruth Ann Marshall, a Director at GPN sold 6,250 shares for a total of $712,692.
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Global Payments, Inc. engages in the provision of payment technology services. It operates through the following segments: North America, Europe, and Asia-Pacific. The North America segment offers numerous services and solutions, including: restaurant, hospitality, retail, convenience stores and petroleum, professional services, automotive, and lodging.
