Square says investigating issues with debit transactions » 15:2309/1609/16/21
Square price target raised to $371 from $361 at Evercore ISI » 08:1709/1509/15/21
Evercore ISI analyst…
Evercore ISI analyst David Togut raised the firm's price target on Square (SQ) to $371 from $361 and keeps an Outperform rating on the shares after increasing his 2023 gross profit growth forecast to 31% following a "closer look" at the company's planned $29B acquisition of Afterpay (AFTPF). He is "incrementally bullish" on Square given what he sees as the stronger growth profile of the combined company, Togut said, adding that Square remains his Top 2 Pick.
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Global Payments price target lowered to $185 from $219 at Morgan Stanley » 07:1109/1009/10/21
Morgan Stanley analyst…
Morgan Stanley analyst James Faucette lowered the firm's price target on Global Payments to $185 from $219 and keeps an Equal Weight rating on the shares following the company's investor day meeting. While Global Payments has raised medium-term targets, he was left with questions on how it plans to adapt its approach to address accelerating competitive spending and views large-scale M&A as the stock's most likely near-term catalyst, Faucette tells investors following the event.
Global Payments price target raised to $217 from $206 at BMO Capital » 09:1309/0909/09/21
BMO Capital analyst James…
BMO Capital analyst James Fotheringham raised the firm's price target on Global Payments to $217 from $206 and keeps an Outperform rating on the shares. The company's investor day presentation "did not disappoint" as it detailed its market leadership in payments, announces the acquisition of MineralTree, and also raised its cycle guidance above consensus expectations, the analyst tells investors in a research note. Fotheringham also raises his FY21 EPS view on Global Payments by 8c to $8.28 and FY22 view by 54c to $9.70.
Valuation of PayPal acquisition of Paidy 'reasonable', says DA Davidson » 09:0009/0909/09/21
DA Davidson analyst…
DA Davidson analyst Christopher Brendler keeps his Buy rating and $325 price target on PayPal (PYPL), saying that based on the disclosed metrics relative to peers, its $2.7B acquisition of Japanese buy-now-pay-later provider Paidy looks "reasonable". PayPal's scale and balance sheet should help boost Paidy, and Paidy should also help accelerate PayPal's growth in Japan in the same way that Afterpay will help Square (SQ) grow in Australia, the analyst tells investors in a research note, adding that he would expect industry consolidation to continue.
Amazon developing new point-of-sale system, Insider reports » 14:0009/0809/08/21
AMZN, SHOP, PYPL, SQ
Amazon (AMZN) is working…
Amazon (AMZN) is working on a new point-of-sale system in an attempt to lure merchants away from third party sellers like Shopify (SHOP), Square (SQ) and PayPal (PYPL), Eugene Kim of Insider reports. Reference Link
Global Payments sees $15B cumulative adjusted FCF 2021-2025 » 10:1609/0809/08/21
Raises cycle adjusted EPS…
Raises cycle adjusted EPS view to high teens to 20% growth, adjusted net revenue growth in low double digits and now sees adjusted operating margins expanding 50-70bps annually. Previous cycle guidance was adjusted EPS growth in the mid to high teens, adjusted net revenue growth in the high single digits to low double digits and adjusted operating margins expanding up to 50bps annually. Comments taken from investor presentation slides.
Early notable gainers among liquid option names on September 8th » 09:5509/0809/08/21
PRGO, CTXS, GPN, GIS, COG
Notable gainers among…
Notable gainers among liquid option names this morning include Perrigo (PRGO) $43.84 +2.23, Citrix (CTXS) $108.86 +5.33, Global Payments (GPN) $165.34 +6.74, General Mills (GIS) $58.83 +2.04, and Cabot Oil & Gas (COG) $18.23 +0.47.
Paysafe announces expanded partnership with Betfred USA Sports » 09:1309/0809/08/21
PSFE, PYPL, MA, GPN, PAYS, SQ, AAPL, V
Paysafe (PSFE) announced…
Paysafe (PSFE) announced an expanded partnership with Betfred USA Sports, the wholly-owned U.S. subsidiary of U.K.-based bookmaker Betfred Group. Building on an existing payments relationship, the deal sees Betfred USA Sports plug into the affiliate marketing software of Income Access, Paysafe's marketing technology and services provider, for the upcoming launch of a multi-state affiliate program. The announcement marks the expansion of a partnership through which Betfred USA Sports currently leverages the Skrill USA digital wallet1 for its Iowa online sportsbook, and credit and debit card payment processing via Paysafe's best-in-breed payment gateway for its online sports-betting brand for the Colorado market. Both online gaming brands were unveiled in September 2020 and followed the launch of respective retail sportsbooks earlier that year. With its market presence and strong brand recognition, Betfred USA Sports is positioned for continued growth in the regulated U.S. iGaming space. The launch, scheduled for later this year, of its Income Access-powered affiliate program will support that objective as the operator will utilize a robust reporting and tracking platform to nurture relationships with marketing partners in both the digital and retail space. The program is set to first launch in Colorado with additional states forthcoming. The Fly notes that other publicly traded payment platforms include: PayPal Holdings (PYPL), Mastercard (MA), Global Payments (GPN), Paysign (PAYS), Square (SQ), Apple (AAPL) and Visa (V).
Global Payments to host virtual investor meeting » 08:5509/0809/08/21
Virtual Investor Meeting…
Virtual Investor Meeting to be held on September 8 at 9 am. Webcast Link