Alyssa B. Vickery, Chief Accounting Officer of Carpay, Inc. (NYSE:CPAY) made an important stock transaction on November 20, 2024. Vickery sold 8,000 shares of Carpe’s common stock at an average price of $370.04 per share, totaling approximately $2.96 million.After the sale, she retains ownership of 1,797 shares.
In a related transaction, Vickery also acquired 8,000 shares at $252.50 per share through the exercise of stock options. The acquisition was part of a non-derivative transaction, adding to the stake it held prior to the sale.
In other recent news, Corpay has been the focus of several analyst adjustments. BMO Capital Markets raised its price target to $400, citing strong third-quarter growth, including 28% sales growth in its corporate payments division and 18% revenue growth in Brazil. . Mizuho (NYSE: ), however, maintained a neutral stance with a $265 price target, highlighting uncertainty in the earnings structure and changes in the CEO’s compensation package.
Carpe’s third-quarter financial results revealed revenue of about $1.029 billion and earnings per share of $3.90, following a second quarter where the company exceeded revenue and earnings estimates. However, third-quarter guidance fell short of expectations, with adjusted earnings per share of $4.90-$5.00 and revenue estimates of $1.015-1.035 billion.
The company has also completed the acquisition of Paymerang, which is expected to generate an additional $25-35 million in revenue for the remainder of 2024. Other analyst reviews included a raise to CFRA’s price target to $385 and a rating adjustment to Wolfe Research’s Monday Perform. These recent developments highlight Carpe’s ongoing efforts to strengthen its financial performance and market position.
InvestingPro Insights
As Alissa B. Vickery’s recent stock transaction reflects confidence in Corpay’s current price, it’s important to review some key financial metrics and insights from InvestingPro to provide context to investors.
Carpe’s market capitalization is an impressive $26.15 billion, underscoring its dominant presence in the financial technology sector. The company’s strong financial health is evident in its revenue of $3.88 billion over the past twelve months, with a remarkable 4.68% increase in revenue over the same period. This growth momentum is consistent with an InvestingPro tip indicating that 8 analysts have issued their earnings estimates for the next period, indicating positive expectations for Corpay’s future performance.
The stock’s strong performance is reflected in its price movement, with a cumulative return of 60.68% over the past year and a return of 37.65% over the past six months. This is consistent with another InvestingPro tip that highlights Carpay’s high returns over the past year. The company is currently trading near its 52-week high, with its price at 99.34% of the peak, indicating strong investor confidence.
While these metrics paint a positive picture, investors should note that Corpay is trading at a relatively high P/E ratio of 26.2, which InvestingPro tips for its near-term earnings growth. There is more than the competition. This valuation metric, combined with a high price/book multiple of 8.48, may warrant careful consideration for value-oriented investors.
For those seeking a more comprehensive analysis, InvestingPro offers additional insights with 10 additional tips for Corpay, providing a deeper understanding of the company’s financial position and market outlook.
This article was produced in collaboration with AI and was reviewed by an editor. See our T&C for more information.
