Corpay (NYSE:CPAY – Get Free Report) had its target price raised by analysts at Barclays from $385.00 to $415.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 24.99% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on CPAY. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Bank of America increased their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group lifted their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Finally, BMO Capital Markets boosted their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $353.46.
View Our Latest Analysis on Corpay
Corpay Trading Down 2.0 %
Corpay (NYSE:CPAY – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $3.85 EPS. On average, equities research analysts anticipate that Corpay will post 17.83 EPS for the current fiscal year.
Hedge Funds Weigh In On Corpay
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Albion Financial Group UT acquired a new stake in shares of Corpay during the 3rd quarter worth $27,000. Headlands Technologies LLC bought a new position in Corpay in the 1st quarter valued at about $31,000. Sunbelt Securities Inc. acquired a new position in shares of Corpay in the 1st quarter valued at approximately $34,000. RFP Financial Group LLC acquired a new stake in shares of Corpay during the 1st quarter worth approximately $35,000. Finally, LGT Financial Advisors LLC bought a new position in Corpay in the second quarter valued at approximately $33,000. 98.84% of the stock is owned by institutional investors and hedge funds.
About Corpay
Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.
Featured Stories
- Five stocks we like better than Corpay
- Consumer Discretionary Stocks Explained
- Is McDonald’s Stock a Smart Buy After Sell-Off and Earnings?
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- QuantumScape: Solid State EV Batteries Nearing Commercialization
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- MicroStrategy: Is This Bitcoin-Powered Stock a Buy or a Gamble?
Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.