Global Payments Inc (NYSE:GPN) reported strong second-quarter earnings and raised its FY23 guidance.
Global Payments reported second-quarter FY23 adjusted net revenue growth of 7% year-on-year to $2.17 billion, slightly missing the consensus of $2.19 billion. Adjusted EPS of $2.62 beat the consensus of $2.58.
Global Payments raised FY23 adjusted net revenue to $8.660 billion – $8.735 billion (prior $8.635 billion – $8.735 billion). The company sees adjusted EPS of $10.35 – $10.44 (prior $10.32 – $10.44).
Global Payments shares rose 9.5% to close at $120.75 on Tuesday.
These analysts made changes to their price targets on Global Payments following earnings announcement.
- Keybanc boosted the price target on Global Payments from $125 to $135. Keybanc analyst Josh Beck maintained an Overweight rating.
- Stephens & Co. raised the price target on Global Payments from $135 to $145. Stephens & Co. analyst Charles Nabhan maintained an Overweight rating.
- Citigroup boosted Global Payments price target from $137 to $146. Citigroup analyst Ashwin Shirvaikar maintained a Buy rating.
- Mizuho raised Global Payments price target from $100 to $123. Mizuho analyst Dan Dolev maintained a Neutral rating.
Check This Out: Check Out 3 Real Estate Stocks With Over 6% Dividend Yields From Wall Street's Most Accurate Analysts
