Global Payments To $210? These Analysts Slash Price Targets On Global Payments Following Q3 Results

Global Payments Inc. (NYSE:GPN) reported weaker-than-expected earnings for its third quarter on Monday.

Global Payments Inc (NYSE:GPN) reported third-quarter FY22 adjusted net revenue growth of 3% year-on-year (6% Y/Y in constant currency) to $2.06 billion, beating the consensus of $2.04 billion. Adjusted EPS of $2.48 missed the consensus of $2.49.

Global Payments shares rose 0.7% to $115.00 in pre-market trading.

These analysts made changes to their price targets on Global Payments following the release of quarterly results.

• Stephens & Co. cut price target on the stock from $155 to $135. Stephens & Co. analyst Charles Nabhan maintained an Overweight rating on the stock.
• Morgan Stanley lowered Global Payments price target from $128 to $124. Morgan Stanley analyst James Faucette maintained an Equal-Weight rating on the stock.
• Credit Suisse reduced the price target on Global Payments from $145 to $135. Credit Suisse analyst Timothy Chiodo maintained a Neutral rating on the stock.
• Susquehanna cut price target on Global Payments from $240 to $210. Susquehanna analyst James Friedman maintained the stock with a Positive.