Corpay Extends Partnership with Rugby Australia for FX Payments
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Should l Buy CPAY?
Source: Businesswire
- Partnership Extension: Corpay, Inc. has signed a multi-year agreement with Rugby Australia to continue as their Official Foreign Exchange Payments Partner, ensuring the provision of FX payment solutions for years to come and strengthening their collaborative relationship.
- Brand Value Enhancement: Corpay Cross-Border will maintain its role as the official partner for both the Men's and Women's Australian National Rugby Teams, leveraging this partnership to enhance brand visibility while providing comprehensive currency risk management solutions to Rugby Australia and its corporate partners.
- Market Influence Expansion: Since 2023, Corpay Cross-Border has delivered various FX payment solutions to Rugby Australia, and this agreement extension will further solidify its position in the international financial solutions market, promoting business growth.
- Strategic Cooperation Deepening: The CEO of Rugby Australia stated that the partnership will continue to deepen, with Corpay's international financial solutions supporting the rugby association's global business dealings and driving long-term development for both parties.
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Analyst Views on CPAY
Wall Street analysts forecast CPAY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CPAY is 356.20 USD with a low forecast of 315.00 USD and a high forecast of 400.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 354.190
Low
315.00
Averages
356.20
High
400.00
Current: 354.190
Low
315.00
Averages
356.20
High
400.00
About CPAY
Corpay, Inc. is a corporate payments company that helps businesses and consumers manage and pay expenses. The Company's suite of payment solutions helps customers to manage vehicle-related expenses, such as fueling and parking; travel expenses, such as hotel bookings; and accounts payable, such as paying vendors. Its segments include Vehicle Payments, Corporate Payments, Lodging Payments and Other. Its solutions include AP Automation, Cross-Border, Purchasing and T&E Cards, and Virtual Card. Its AP Automation solutions include Payments Automation, Invoice Automation, Purchase Order Automation and Integrations. Its Virtual Card solution provides a single-use card number for a specific amount, usable within a defined timeframe. Its trading platform and integrated payment solutions, which can be customized as per client’s business requirements. Its Cross-Border solution is used by its customers to pay international vendors, foreign office and for-profit repatriation and dividends.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Corpay Extends Partnership with Rugby Australia for FX Payments
- Partnership Extension: Corpay, Inc. has signed a multi-year agreement with Rugby Australia to continue as their Official Foreign Exchange Payments Partner, ensuring the provision of FX payment solutions for years to come and strengthening their collaborative relationship.
- Brand Value Enhancement: Corpay Cross-Border will maintain its role as the official partner for both the Men's and Women's Australian National Rugby Teams, leveraging this partnership to enhance brand visibility while providing comprehensive currency risk management solutions to Rugby Australia and its corporate partners.
- Market Influence Expansion: Since 2023, Corpay Cross-Border has delivered various FX payment solutions to Rugby Australia, and this agreement extension will further solidify its position in the international financial solutions market, promoting business growth.
- Strategic Cooperation Deepening: The CEO of Rugby Australia stated that the partnership will continue to deepen, with Corpay's international financial solutions supporting the rugby association's global business dealings and driving long-term development for both parties.
See More
Corpay Extends Partnership with Rugby Australia for Cross-Border Payments
- Partnership Extension: Corpay, Inc. has signed a multi-year agreement with Rugby Australia to continue as their Official Foreign Exchange Payments Partner, ensuring a close collaboration for years to come.
- Brand Value Enhancement: By partnering with the Australian National Rugby Teams, the Wallabies and Wallaroos, Corpay aims to enhance its brand recognition and solidify its position in the global payments solutions market.
- Foreign Exchange Solutions: Since 2023, Corpay Cross-Border has provided a range of foreign exchange payment solutions to Rugby Australia, helping them manage currency risk and improve financial efficiency, thereby promoting business growth.
- Support for Global Operations: Rugby Australia's CEO noted that Corpay's international financial solutions are crucial for their global business dealings, and both organizations look forward to continuing their close collaboration to advance the sport of rugby.
See More
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Corpay Extends Partnership with Rugby Australia for FX Payments
- Partnership Extension: Corpay, Inc. has signed a multi-year agreement with Rugby Australia to continue as their Official Foreign Exchange Payments Partner, ensuring the provision of FX payment solutions for years to come and strengthening their collaborative relationship.
- Brand Value Enhancement: Corpay Cross-Border will maintain its role as the official partner for both the Men's and Women's Australian National Rugby Teams, leveraging this partnership to enhance brand visibility while providing comprehensive currency risk management solutions to Rugby Australia and its corporate partners.
- Market Influence Expansion: Since 2023, Corpay Cross-Border has delivered various FX payment solutions to Rugby Australia, and this agreement extension will further solidify its position in the international financial solutions market, promoting business growth.
- Strategic Cooperation Deepening: The CEO of Rugby Australia stated that the partnership will continue to deepen, with Corpay's international financial solutions supporting the rugby association's global business dealings and driving long-term development for both parties.
See More
Corpay Extends Partnership with Rugby Australia for Cross-Border Payments
- Partnership Extension: Corpay, Inc. has signed a multi-year agreement with Rugby Australia to continue as their Official Foreign Exchange Payments Partner, ensuring a close collaboration for years to come.
- Brand Value Enhancement: By partnering with the Australian National Rugby Teams, the Wallabies and Wallaroos, Corpay aims to enhance its brand recognition and solidify its position in the global payments solutions market.
- Foreign Exchange Solutions: Since 2023, Corpay Cross-Border has provided a range of foreign exchange payment solutions to Rugby Australia, helping them manage currency risk and improve financial efficiency, thereby promoting business growth.
- Support for Global Operations: Rugby Australia's CEO noted that Corpay's international financial solutions are crucial for their global business dealings, and both organizations look forward to continuing their close collaboration to advance the sport of rugby.
See More
US Stocks Plunge as Tech Sector Leads Decline
- Tech Sector Decline: Qualcomm's (QCOM) forecast of weaker-than-expected Q2 revenue led to an over 8% drop in its stock, triggering a sell-off across the tech sector, with the Nasdaq 100 index hitting a 2.5-month low, indicating waning investor confidence in technology stocks.
- Weak Labor Market Signals: Challenger's report revealed a staggering 117.8% year-over-year increase in job cuts for January, totaling 108,435, the highest for January since 2009, while initial jobless claims rose by 22,000 to 231,000, highlighting vulnerabilities in the US labor market that could hinder economic recovery.
- Bitcoin Plunge: Bitcoin (^BTCUSD) plummeted over 12% to a 1.25-year low, reflecting deepening negative momentum in the cryptocurrency market, with approximately $2 billion flowing out of Bitcoin ETFs in the past month, signaling a decline in investor confidence.
- Earnings Season Impact: Despite 150 S&P 500 companies set to report earnings this week, market focus on economic data intensifies, with S&P 500 earnings expected to grow by 8.4% in Q4, yet overall market sentiment remains suppressed by recent economic weakness.
See More
US Stocks Plunge Sharply, Led by Technology Sector Declines
- Technology Sector Decline: Qualcomm (QCOM) forecasts Q2 revenue between $10.2 billion and $11.0 billion, below the consensus of $11.18 billion, leading to an over 8% drop in its stock and exacerbating the overall decline in the Nasdaq 100 index, heightening market panic.
- Weak Labor Market Signals: Challenger's report shows January job cuts surged 117.8% year-on-year to 108,435, marking the highest level since 2009, indicating fragility in the US labor market and increasing investor concerns about economic outlook.
- Bitcoin Price Crash: Bitcoin (^BTCUSD) is down more than 7% today, hitting a 1.25-year low and falling about 45% from its October record high, reflecting negative sentiment in the cryptocurrency market and a trend of capital outflows.
- Impact of Earnings Season: Despite 150 S&P 500 companies set to report earnings this week and 81% of the 237 companies that have reported exceeding expectations, market concerns over future economic data continue to suppress stock performance, with S&P earnings growth expected to reach 8.4% in Q4.
See More
Significant Stock Movements in Midday Trading
- McKesson Earnings Beat: McKesson's fiscal third-quarter earnings per share exceeded Wall Street's highest estimates, and the adjusted full-year EPS guidance was raised above analyst consensus, leading to a 16% stock price increase, indicating strong performance in the medical supply sector.
- Bob's Discount Furniture IPO: Bob's Discount Furniture debuted on the New York Stock Exchange with shares priced at $17, recently rising 10%, marking a successful entry into the public market and laying the groundwork for future growth.
- Fluence Energy Earnings Miss: Fluence Energy reported first-quarter revenue of $475.2 million, falling short of the $481.2 million consensus, with a per-share loss of 34 cents missing the 21-cent loss estimate, resulting in a 31% stock price drop, reflecting market concerns over its profitability.
- Cardinal Health Guidance Raised: Cardinal Health reported quarterly adjusted earnings of $2.63 per share, exceeding the $2.36 consensus, with revenue of $65.63 billion surpassing the $64.14 billion estimate, leading to an 8% stock price increase, showcasing strong growth potential in the healthcare services sector.
See More
Software Stocks Plunge for Eighth Session Amid AI Demand Concerns
- Software Sector Decline: Software stocks fell for the eighth consecutive session on Thursday, marking the longest losing streak since May 2021, as investor concerns about AI undermining demand in the SaaS economy intensified.
- ETF Performance: The iShares Expanded Tech-Software Sector ETF (NYSE:IGV) dropped 1.9%, extending its decline to approximately 30% from late October highs, indicating a waning confidence in tech stocks.
- Individual Stock Movements: Palantir Technologies Inc. (NASDAQ:PLTR) fell 4.4% after an 11% drop on Wednesday, suggesting a diminishing market expectation for its growth prospects in the AI-driven landscape.
- Broader Economic Impact: Bitcoin slid 9% to $66,000, negatively impacting software stocks tied to crypto markets, while commodities also faced broad declines, with silver plunging 13% to $76 an ounce and gold slipping 2% to $4,865 per ounce.
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