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Investing.com - Global Payments (NYSE:GPN) stock jumped approximately 7% intraday after Truist Securities maintained its Hold rating and $83.00 price target on the payment technology company. The $20.5 billion market cap company, currently trading at a P/E ratio of 13.2, appears undervalued according to InvestingPro’s Fair Value analysis.
Truist Securities analyst Matthew Coad noted that Global Payments delivered "a solid print" in its latest earnings report, with management focusing on the Genius point-of-sale system rollout and capital management priorities during the earnings call. InvestingPro data shows 10 analysts have revised their earnings upward for the upcoming period, suggesting growing confidence in the company’s outlook.
The significant stock price increase appears to be driven by early success of the Genius POS system, which has given investors confidence that growth can improve in the second half of the year. Unlock more valuable insights about Global Payments with InvestingPro’s comprehensive research report, featuring detailed analysis and key metrics that matter most to investors.
Management’s commentary on capital return was described by the analyst as "a clear positive" that contributed to investor optimism, though specific details of these capital return plans were not elaborated in the available information.
Global Payments’ stock reaction suggests the market responded favorably to both the company’s current performance and its forward-looking initiatives, despite Truist Securities maintaining its neutral stance on the stock.
In other recent news, Global Payments reported second-quarter earnings that surpassed analyst expectations and adjusted its full-year profit outlook upward. The company’s revenue for the quarter was consistent with Street estimates. Following these results, Raymond (NSE:RYMD) James increased its price target for Global Payments to $100, maintaining an Outperform rating, citing early successes with the company’s new Genius POS platform. Similarly, Jefferies raised its price target to $85 from $75, while keeping a Hold rating, due to the company’s organic growth and improved margins. These recent developments reflect positive momentum for Global Payments, as noted by the upward revisions from analysts.
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