Oppenheimer analyst Glenn Greene maintained a Buy rating on Global Payments Inc (NYSE: GPN) today and set a price target of $130. The company’s shares opened today at $109.50.
Greene commented:
“GPN posted solid 3Q18 results with 10% Y/Y (HSD organic) revenue growth (including HSD organic NA growth dragged by wholesale), and cash EPS of $1.44 (up ~25%; beat our/Street’s $1.40/1.39E). Growth was again broadbased including ~10.5% US direct organic growth, ~12% organic/CC European growth and ~13% organic/CC APAC growth. GPN raised its CY18 guidance, with incremental 2H18 FX headwinds largely offset by AMD/SICOM revenue. The CY18 guide now implies ~15% adjusted revenue growth and ~28-30% EPS growth. The acquisitions of AMD and SICOM should both prove modestly accretive to CY19 EPS. With shares trading at ~15x our CY20E EPS, we view GPN as attractive. $130 PT.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 18.6% and a 74.9% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Payments Inc with a $133.50 average price target, a 21.9% upside from current levels. In a report released today, Cantor Fitzgerald also maintained a Buy rating on the stock with a $136 price target.
.
See today’s analyst top recommended stocks >>
Global Payments Inc’s market cap is currently $17.2B and has a P/E ratio of 31.37. The company has a Price to Book ratio of 4.49.
Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock. Last month, Cameron Bready, the Senior Executive VP and CFO of GPN sold 57,737 shares for a total of $7,377,471.
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.
