Oppenheimer Believes Global Payments Inc (GPN) Won’t Stop Here

In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on Global Payments Inc (GPN), with a price target of $152. The company’s shares opened today at $144.04, close to its 52-week high of $147.50.

Greene commented:

“GPN posted strong 1Q19 results with double-digit organic CC revenue growth, and cash EPS of $1.34 (up ~19% or 22% in CC vs. our/Street’s $1.28/$1.30 estimates). Growth was again broad-based including ~LDD US direct organic growth, and mid- teens organic CC Spanish and LDD organic APAC growth. N.A. and APAC margin performance was notable, up 180bps and 280bps Y/Y, respectively. The company also modestly raised its CY19 guidance, calling for ~14-15% CC revenue growth and ~15-18% EPS growth, which appears somewhat conservative. The acquisitions of AMD and SICOM are both performing well and should prove modestly accretive to CY19E EPS. With shares trading at ~20x our CY20E EPS, we view GPN as quite attractive. Reiterate Outperform and adjust PT to $152 from $150.”

According to TipRanks.com, Greene is a top 25 analyst with an average return of 19.9% and a 84.6% 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 Strong Buy with an average price target of $144.56, implying a 0.4% upside from current levels. In a report issued on April 18, Citigroup also maintained a Buy rating on the stock with a $160 price target.

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Based on Global Payments Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $75.21 million. In comparison, last year the company had a net profit of $91.4 million.

Based on the recent corporate insider activity of 95 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Cameron Bready, the Senior Executive VP and CFO of GPN sold 34,308 shares for a total of $4,505,670.

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Global Payments, Inc. engages in the provision of payment technology and software solutions. It operates through the following geographical segments: North America, Europe and Asia-Pacific.

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