Global Payments Analysts Slash Their Forecasts After Q3 Results

Global Payments Inc GPN reported better-than-expected third-quarter earnings on Tuesday.

Adjusted net revenue rose 9% Y/Y to $2.232 billion, slightly beating the consensus of $2.226 billion. Adjusted EPS of $2.75 beat the consensus of $2.71.

For FY23, Global Payments raised the adjusted EPS outlook to $10.39 - $10.45 (from $10.35 - $10.44) vs. consensus of $10.38.

Global Payments shares gained 1.7% to trade at $107.97 on Wednesday.

These analysts made changes to their price targets on Global Payments following earnings announcement.

• Raymond James slashed the price target on Global Payments from $155 to $147. Raymond James analyst John Davis maintained an Outperform rating.
• BMO Capital lowered the price target on Global Payments from $208 to $180. BMO Capital analyst James Fotheringham maintained an Outperform rating.
• Mizuho cut the price target on Global Payments from $123 to $110. Mizuho analyst Dan Dolev maintained a Neutral rating.
• Susquehanna slashed the price target on Global Payments from $180 to $150. Susquehanna analyst James Friedman maintained a Positive rating.

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