In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on Global Payments Inc (NYSE: GPN), with a price target of $130. The company’s shares opened today at $115.25.
Greene said:
“GPN posted solid upside in 2Q18 results with 18% Y/Y (double-digit organic) revenue growth (accelerated Q/Q), including HSD organic NA growth (dragged by wholesale declines), and cash EPS of $1.29 (up ~37% and ahead of our/Street’s $1.22 ests.). Growth was broad-based including LDD Direct NA organic growth, mid-teens Spanish growth and mid-teens organic APAC growth. Despite $0.10 of incremental FX GPN raised the low-end of its CY18 EPS guidance. The CY18 guide implies 28% EPS growth, or low 20% EPS growth at midpoint, ex net tax savings. GPN also announced the acquisition of Advanced MD for $700M, which appears strategic and synergistic, and likely modestly accretive in CY19. Trading at ~19.5x our CY19E EPS, we view GPN as attractive. $130 PT.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 21.4% and a 82.6% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
Currently, the analyst consensus on Global Payments Inc is a Moderate Buy with an average price target of $129.67, which is a 12.5% 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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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.
