Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Global Payments Inc (NYSE: GPN) today and set a price target of $136. The company’s shares closed yesterday at $119.18, close to its 52-week high of $121.
Foresi wrote:
“: We maintain our Overweight rating and raise our 12-month price target to $136 from $126 on shares of GPN. We are attracted to GPN’s strong position in purchase transaction processing in the U.S. and its solid footprint globally as a merchant acquirer. GPN reported quarterly results above expectations and announced the acquisition of AdvancedMD. We continue to believe there is an opportunity for Global Payments to accelerate revenue growth and improve margins through acquisitions, which should have a positive impact on results and multiples.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 18.8% and a 82.5% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Global Payments Inc is a Strong Buy with an average price target of $134.70, implying a 13.0% upside from current levels. In a report issued on July 24, Guggenheim also reiterated a Buy rating on the stock with a $123 price target.
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Global Payments Inc’s market cap is currently $19.01B and has a P/E ratio of 36.90. The company has a Price to Book ratio of 4.81.
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
