Oppenheimer analyst Glenn Greene maintained a Buy rating on Global Payments Inc (NYSE: GPN) today and set a price target of $121. The company’s shares opened today at $111.10.
Greene observed:
“GPN posted solid upside 1Q18 results with 15% Y/Y (17% adjusted for ASC 606) revenue growth, including 9% organic NA growth (an acceleration from 4Q17), and cash EPS of $1.13 (up ~33% and ahead of our/Street’s $1.09/$1.10 ests.). Growth was broad-based including LDD Direct NA organic growth, perhaps mid-teens Spanish growth and 15% APAC growth. GPN modestly raised its CY18 guidance, which now anticipates adjusted revenue growth acceleration to 13-15% despite perhaps 2-3pt drag from non-strategic and low margin US wholesale business. The CY18 guide implies 27.5% EPS growth or low 20% EPS growth at midpoint, ex net tax savings. GPN trades at ~18.5x our CY19E EPS, which we view as attractive. Reiterate Outperform rating and $121 PT.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 21.1% and a 84.0% 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 Strong Buy and the average price target is $125.81, representing a 13.2% upside.
In a report issued on April 18, Credit Suisse also maintained a Buy rating on the stock with a $125 price target.
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Global Payments Inc’s market cap is currently $17.92B and has a P/E ratio of 37.78. The company has a book value ratio of 4.7223.
Based on the recent corporate insider activity of 122 insiders, corporate insider sentiment is negative on the stock.
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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.
