Corpay, Inc. (CPAY) Monthly Stock Update
Publication Date: September 22, 2024
Company Overview
Corpay, Inc. (CPAY), headquartered in Atlanta, is a leading payments company that specializes in managing a variety of corporate expenses, including vehicle-related costs and lodging expenses across various global markets such as the United States, Brazil, and the UK. Established in 1986 and formerly known as FLEETCOR Technologies, Inc., Corpay provides a suite of solutions designed to streamline accounts payable processes. These services encompass vehicle payment solutions, corporate payment automation, virtual cards, and cross-border transactions, catering to a diverse clientele including businesses and payment networks. Positioned within the Software-Infrastructure industry of the Technology sector, Corpay’s strong market presence signals potential growth, leading analysts to issue a “buy” recommendation. With a target high price of $376.00, the stock presents significant upside potential.
Financial Performance & Stock Metrics
As of the latest reporting, Corpay, Inc. has generated substantial total revenue of approximately $3.82 billion, underscoring its robust market position. While specific financial metrics such as EBITDA are not disclosed, the revenue figures suggest a solid foundation for operational success. The stock is currently priced at $307.21, reflecting a notable position above its fifty-two week low of $220.39, and nearing its fifty-two week high of $319.94, indicating confidence among investors. The median target price among analysts stands at $330.00, with a consensus “buy” recommendation stemming from 14 analysts, suggesting a bullish outlook for the stock.
Investor sentiment is also reflected in the short interest metrics, with 2,242,928 shares held short, equivalent to approximately 0.0377% of the company’s float. This relatively low short interest indicates an overall confidence in Corpay’s future performance. The current pricing analysis places potential growth within a range of $265.00 (low) to $376.00 (high), reinforcing the optimistic projection for CPAY stock going forward. The fifty-day moving average at $295.48 suggests an upward trend, further enhancing the attractiveness of this stock for both short- and medium-term investors.
| Metric | Value |
|---|---|
| Market Cap | $21.3b |
| Total Debt | $7.4b |
| Total Cash | $1.4b |
| Shares Outstanding | 69.4m |
| Float Shares | 67.2m |
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