Corpay Expands Its Global Reach with GPS Capital Markets Acquisition: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2024
0mins
Source: Benzinga
- Acquisition Agreement: Corpay, Inc. CPAY has agreed to acquire GPS Capital Markets, LLC for an undisclosed sum.
- Business Profile: GPS Capital Markets provides cross-border and treasury management solutions to upper-middle market companies in the U.S.
- Deal Impact: Post-acquisition, Corpay will handle cross-border payments for around 23,000 customers across six continents in more than 145 currencies.
- Financial Outlook: Corpay anticipates its second-quarter 2024 results to align with earlier financial guidance provided.
- Investment Opportunities: Investors can access CPAY shares through Amplify Mobile Payments ETF IPAY and T. Rowe Price Small-Mid Cap ETF TMSL.
Analyst Views on CPAY
Wall Street analysts forecast CPAY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CPAY is 356.20 USD with a low forecast of 315.00 USD and a high forecast of 400.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 327.140
Low
315.00
Averages
356.20
High
400.00
Current: 327.140
Low
315.00
Averages
356.20
High
400.00
About CPAY
Corpay, Inc. is a corporate payments company that helps businesses and consumers manage and pay expenses. The Company's suite of payment solutions helps customers to manage vehicle-related expenses, such as fueling and parking; travel expenses, such as hotel bookings; and accounts payable, such as paying vendors. Its segments include Vehicle Payments, Corporate Payments, Lodging Payments and Other. Its solutions include AP Automation, Cross-Border, Purchasing and T&E Cards, and Virtual Card. Its AP Automation solutions include Payments Automation, Invoice Automation, Purchase Order Automation and Integrations. Its Virtual Card solution provides a single-use card number for a specific amount, usable within a defined timeframe. Its trading platform and integrated payment solutions, which can be customized as per client’s business requirements. Its Cross-Border solution is used by its customers to pay international vendors, foreign office and for-profit repatriation and dividends.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
