Analysts Are Cutting Price Targets of These 5 Stocks

In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Cutting Price Targets of These 10 Stocks.

05. Global Payments Inc. (NYSE:GPN)

Number of Hedge Fund Holders: 56

Global Payments Inc. (NYSE:GPN) is a business service provider headquartered in Atlanta, Georgia. The company specializes in offering a wide range of digital payment products and solutions. Global Payments Inc. (NYSE:GPN) provides prepaid payroll and debit cards, allowing individuals without traditional bank accounts to make digital payments. Additionally, the company offers a payroll platform for businesses and is recognized as one of the leading stocks in the digital payment sector. On June 26, Mizuho revised the price target for Global Payments Inc. (NYSE:GPN), reducing it from $110 to $100.

Oakmark Funds made the following comment about Global Payments Inc. (NYSE:GPN) in its Q4 2022 investor letter:

“We eliminated four positions during the quarter: Philip Morris International, ConocoPhillips, Global Payments Inc. (NYSE:GPN) and Johnson Controls. We sold Global Payments to utilize a tax loss and to increase our position in Fiserv, a similar business that offers better fundamentals at a comparable valuation.”