Corpay Stock Failing to Match Up with the Dow's Performance?
Corpay, Inc., a payments company based in Atlanta, Georgia, released its Q2 results on Aug. 6, with both revenue and adjusted EPS aligning with the consensus estimates.
The company's revenue for Q2 grew 12.9% year-over-year to $1.1 billion, while its adjusted EPS improved 12.7% from the year-ago quarter to $5.13.
Despite the positive earnings, Corpay's shares plunged 3.4% in the following trading session. Over the past three months, shares of CPAY have declined 2.9%. In the longer term, CPAY has dipped 23.8% from its 52-week high of $400.81, reached on Feb. 6.
CPAY has been trading below its 200-day moving average since early April and below its 50-day moving average since early March. The mean price target of CPAY is $385.42, suggesting a 26.3% premium to its current price levels.
CPAY specializes in automating and streamlining complex business payment workflows. It operates across multiple payment categories, including fuel and fleet payments, lodging solutions, corporate and vendor payments, and cross-border payments.
As of the publication date, Neharika Jain did not have positions in any of the securities mentioned in this article.
In comparison, Corpay, Inc. has outpaced its rival, Global Payments Inc. (GPN), which declined 22.6% over the past 52 weeks and 23.2% on a YTD basis. On a YTD basis, shares of CPAY are down 9.8%, compared to DOWI's 8.5% surge.
The Dow Jones Industrial Average ($DOWI) returned 9.4% over the same time frame. CPAY has lagged behind DOWI in the longer term, with the index experiencing a 11.2% uptick over the past 52 weeks.
CPAY has a consensus rating of 'Moderate Buy' from the 15 analysts covering it, and a market cap of $21.6 billion, making it a large-cap stock. However, there is no information available about the name of the analyst who made the price estimate for Corpay, Inc. stock at an average price of $385.42 USD.
It's important to note that information and data in this article are solely for informational purposes. For more detailed information, please view the website Disclosure Policy here.
Read also:
- Deepwater Horizon Oil Spill: BP Faces Record-Breaking Settlement - Dubbed 'Largest Environmental Fine Ever Imposed'
- Meta Unveils Ray-Ban AR Display Sunglasses; TikTok Agrees to $200 Million Deal
- Historic downtown temples to receive restoration funds totaling over 25 million pesos
- Cars' Environmental Impact Explained
