Corpay, Inc. (CPAY), headquartered in Atlanta, Georgia, operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments. Valued at $24.3 billion by market cap, the company offers global payment, currency risk management, and invoice automation solutions which help businesses to control, simplify, and secure payment for vehicle related expenses, general payables, tolls, insurance, and lodging expenses. The tech giant is expected to announce its fiscal fourth-quarter earnings for 2024 on Wednesday, Feb. 5.
Ahead of the event, analysts expect CPAY to report a profit of $5.05 per share on a diluted basis, up 21.1% from $4.17 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect CPAY to report EPS of $17.84, up 13.2% from $15.76 in fiscal 2023. Its EPS is expected to rise 16.4% year over year to $20.76 in fiscal 2025.
CPAY stock has outperformed the S&P 500’s ($SPX) 22% gains over the past 52 weeks, with shares up 24% during this period. Similarly, it outperformed the Technology Select Sector SPDR Fund’s (XLK) 18.2% gains over the same time frame.
On Nov. 7, CPAY reported its Q3 results and its shares closed up more than 5% in the following trading session. Its adjusted EPS of $5 exceeded Wall Street expectations of $4.98. The company’s revenue was $1 billion, matching Wall Street forecasts. CPAY expects full-year adjusted EPS to be between $18.90 and $19.10, and it expects revenue to range from $3.98 billion to $4.01 billion.
Analysts’ consensus opinion on CPAY stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 18 analysts covering the stock, 11 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and five give a “Hold.” CPAY’s average analyst price target is $399.59, indicating a potential upside of 13.4% from the current levels.
