Global Payments Analysts Slash Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Global Payments Inc (NYSE:GPN) reported better-than-expected Q3 earnings, with adjusted net revenue rising 9% Y/Y to $2.232 billion and adjusted EPS of $2.75. The company also raised its FY23 adjusted EPS outlook. However, several analysts, including Raymond James, BMO Capital, Mizuho, and Susquehanna, have lowered their price targets on Global Payments following the earnings announcement.
November 01, 2023 | 6:24 pm
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Despite better-than-expected Q3 results and raised FY23 EPS outlook, Global Payments saw several analysts lower their price targets. This could create uncertainty among investors.
Global Payments reported strong Q3 results and raised its FY23 EPS outlook, which would typically be positive for the stock. However, the lowering of price targets by several analysts following the earnings announcement introduces a level of uncertainty that could impact the stock's performance in the short term.
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