Corpay (CPAY) has been experiencing a
7.7% downturn since its last earnings report. This development, however, hasn't deterred Wells Fargo from initiating coverage on the company, granting it an 'equal weight' rating. The company continues to strengthen its position in the corporate payments market with the introduction of a new
World Elite Business Mastercardยฎ and its recent
rebranding from FLEETCOR. Corpay impressively recorded
$494M in Q1 fuel payments revenue, reflecting strong potential despite the shrink. Its recent moves into expanding their pay system include the
acquisition of Paymerang and a full AP Corporate Payments Company. Despite the current financial situation brought on by market challenges, it still remains a favorite among institutional investors who own
87% of the company. The Q1 2024 earnings report was a mixed bag with earnings beating estimates while revenues fell slightly below predictions. Analysts suggest investors add Corpay to their watchlist due to its growth potential.
Corpay CPAY News Analytics from Fri, 23 Dec 2016 22:41:13 GMT to Sat, 08 Jun 2024 10:36:06 GMT -
Rating -3
- Innovation 2
- Information 1
- Rumor -5