Corpay (CPAY) has seen a flurry of activities in the market. The company, previously known as
FLEETCOR, has had its stock rating downgraded by Wolfe Research and even faced a price target reduction to $350.00 by both Barclays and BMO Capital Markets. However, Royal Bank of Canada increased their price target to $310.00. Amid this, the company has significantly expanded its market presence through the strategic acquisition of
Paymerang, a Full AP Corporate Payments Company. This move is seen as a notable development, contributing to Corpay's growth. Despite the challenges, Corpay exceeded expectations in Q1 earnings, showing strong financial results with Q1 fuel payments revenue amounting to $494M. While the growth meets projections, some revenues have nevertheless missed the mark. Aldrich Capital Partners announced the sale of Paymerang to Corpay, further signaling the expansion of its market reach. Despite downgrades, Corpay maintains strong institutional support with 87% owned by institutional investors suggesting in-depth analysis and trust in the firm.
Furthermore, the company also plans to participate in upcoming investor conferences potentially indicating future opportunities for growth or networking.
Corpay CPAY News Analytics from Fri, 23 Dec 2016 22:41:13 GMT to Sun, 19 May 2024 07:59:51 GMT -
Rating -3
- Innovation 7
- Information 8
- Rumor 5
