Global Payments Stock Could Be Running Out of Steam

GPN has run into a historically bearish trendline on the charts

Laura McCandless

Deputy Editor

Feb 9, 2023 at 2:38 PM

The shares of Global Payments Inc (NYSE:GPN) have been moving higher since mid December, up 13.7% since the start of the year. However, the equity appears to be running into some technical pressure on the charts, including its 200-day moving average, which has historically bearish implications.

According to data from Schaeffer's Senior Quantitative Analyst Rocky White, GPN has come within one standard deviation of the aforementioned trendline five times over the past three years. The stock was lower one month later 80% of the time, averaging a 9.5% loss. From its current perch of $112, this setback would place Global Payments stock just below $102.

GPN Feb9

An unwinding of optimism amongst analysts could provide headwinds as well. Of the 20 analysts in coverage, 15 carry a "buy" or better rating on GPN. Plus, the 12-month consensus price target of $142.93 is a 27% premium to current levels.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!