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Corpay, Inc. ($CPAY) Stock Forecast: Down 5.5% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Corpay, Inc.?

Corpay, Inc. (NYSE: CPAY) is a leader in corporate payments. Today, CPAY experienced a strong bearish movement in the market.

Why is Corpay, Inc. going down?

CPAY stock is down 5.5% on May 9, 2024 14:55

  • CPAY reported its first quarter 2024 financial results, with in-line earnings per share but slightly missing revenue expectations.
  • Aldrich Capital Partners announced the sale of Paymerang to Corpay, potentially impacting investor sentiment.
  • The overall market sentiment towards CPAY might have been influenced by profit-taking after a significant one-year gain in the stock price.
  • Investors may have reacted to recent developments by selling CPAY shares to lock in profits, leading to the bearish movement observed today.

CPAY Price Chart

CPAY News

Corpay Reports First Quarter 2024 Financial Results

ATLANTA–(BUSINESS WIRE)–Corpay, Inc. (NYSE: CPAY), a leader in corporate payments, today reported financial results for its first quarter ended March 31, 2024. “Our results were in-line with our expectations. Overall organic revenue growth was 6% and our Corporate Payments segment grew 17%,” said Ron Clarke, chairman and chief executive officer, Corpay, Inc. “Also, today we […] L''articolo Corpay Reports First Quarter 2024 Financial Results è un contenuto originale di 01net .

https://www.01net.it/corpay-reports-first-quarter-2024-financial-results/

News Article Image Corpay Reports First Quarter 2024 Financial Results

CPAY Stock Earnings: Corpay Meets EPS, Misses Revenue for Q1 2024

Corpay (NYSE:CPAY) just reported results for the first quarter of 2024. Corpay reported earnings per share of $4.10. This met the analyst estimate for EPS of $4.10. The company reported revenue of $935.25 million. This was 0.30% worse than the analyst estimate for revenue of $938.02 million. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

https://investorplace.com/earning-results/2024/05/cpay-stock-earnings-corpay-for-q1-of-2024/

News Article Image CPAY Stock Earnings: Corpay Meets EPS, Misses Revenue for Q1 2024

Aldrich Capital Partners Announces Sale of Paymerang to Corpay

MCLEAN, Va., May 8, 2024 /PRNewswire/ -- Aldrich Capital Partners (ACP), a McLean-based growth equity firm, today announced the signing of definitive agreement for the sale of its portfolio company Paymerang to Corpay (NYSE: CPAY). Paymerang, a leader in payment automation solutions,…

https://www.prnewswire.com/news-releases/aldrich-capital-partners-announces-sale-of-paymerang-to-corpay-302140450.html

News Article Image Aldrich Capital Partners Announces Sale of Paymerang to Corpay

Aldrich Capital Partners Announces Sale of Paymerang to Corpay | CPAY Stock News

MCLEAN, Va., May 8, 2024/ PRNewswire/-- Aldrich Capital Partners, a McLean- based growth equity firm, today announced the signing of definitive agreement for the sale of its portfolio company Paymerang to Corpay. Paymerang, a leader in payment automation solutions, joins Corpay, enhancing its offerings in the B2B payments sector across the education, healthcare,…

https://www.stocktitan.net/news/CPAY/aldrich-capital-partners-announces-sale-of-paymerang-to-q06y92mi69cf.html

News Article Image Aldrich Capital Partners Announces Sale of Paymerang to Corpay | CPAY Stock News

3 Must-Own Stocks to Scoop Up if You Have $500 to Invest

Almost one year ago, I picked three of the best stocks to buy with $500. The caveat was that their combined share prices had to be equal or near $500. The three stocks were Steel Dynamics (NASDAQ:STLD), Targa Resources (NYSE:TRGP) and United Rentals (NYSE:URI). Their combined share prices were $509.37, so the total went over by $10. Today, they’re $909.74, a one-year gain of nearly 79%, 3.2 times the S&P 500. Not too shabby.  Encouraged by these results, I’ll try to repeat the performance. Given the gains achieved by stocks overall over the past year, it will be more challenging. “Because price and value are two different things, I’m looking for cheap stocks with high potential. Therefore, I screened for stocks with low price-to-free-cash flow (P/FCF) and price-earnings-to-growth (PEG) ratios,” I wrote last May.  As I did last year, I’ll select my three names from the index, and they’ll be three new names, not carryovers from last year.

https://investorplace.com/2024/05/3-must-own-stocks-to-scoop-up-if-you-have-500-to-invest/

News Article Image 3 Must-Own Stocks to Scoop Up if You Have $500 to Invest

Corpay, Inc. Price History

09.04.2024 - CPAY Stock was down 5.5%

  • CPAY reported its first quarter 2024 financial results, with in-line earnings per share but slightly missing revenue expectations.
  • Aldrich Capital Partners announced the sale of Paymerang to Corpay, potentially impacting investor sentiment.
  • The overall market sentiment towards CPAY might have been influenced by profit-taking after a significant one-year gain in the stock price.
  • Investors may have reacted to recent developments by selling CPAY shares to lock in profits, leading to the bearish movement observed today.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.

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Date
May 9, 2024 14:55
Content
Corpay, Inc. ($CPAY) Stock Forecast: Down 5.5% Today What is Corpay, Inc.? Why is Corpay, Inc. going down? CPAY CPAY Price Chart CPAY News Trending Today Corpay, Inc. Price History 09.04.2024 - CPAY Stock was down 5.5%