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Robert W. Baird Thinks Global Payments’ Stock is Going to Recover

Robert W. Baird analyst David Koning maintained a Buy rating on Global Payments (GPNResearch Report) on May 23 and set a price target of $192.00. The company’s shares closed last Tuesday at $122.86, close to its 52-week low of $114.80.

According to TipRanks.com, Koning is a 4-star analyst with an average return of 5.2% and a 56.3% success rate. Koning covers the Technology sector, focusing on stocks such as TELUS International (CDA), Jack Henry & Associates, and Fidelity National Info.

Currently, the analyst consensus on Global Payments is a Strong Buy with an average price target of $179.31, implying a 45.5% upside from current levels. In a report issued on May 23, Jefferies also maintained a Buy rating on the stock with a $145.00 price target.

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Based on Global Payments’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.16 billion and net profit of $245 million. In comparison, last year the company earned revenue of $1.99 billion and had a net profit of $197 million.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GPN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Georgia-based Global Payments, Inc. provides payment technology and software solutions for card, electronic, check, and digital-based payments in North America, Europe, the Asia-Pacific, and Latin America. The company operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions.

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