Euronet Worldwide (NASDAQ:EEFT) Receives “Buy” Rating from Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Euronet Worldwide (NASDAQ:EEFT) in a research report sent to investors on Monday morning, Stock Target Advisor reports. Needham & Company LLC currently has a $175.00 price objective on the business services provider’s stock.
A number of other equities analysts also recently commented on EEFT. Wolfe Research initiated coverage on shares of Euronet Worldwide in a research note on Wednesday, July 31st. They issued an outperform rating and a $200.00 target price on the stock. ValuEngine raised shares of Euronet Worldwide from a sell rating to a hold rating in a research note on Monday, November 4th. Piper Jaffray Companies set a $180.00 target price on shares of Euronet Worldwide and gave the company a buy rating in a research note on Tuesday, September 17th. Northland Securities reissued a buy rating and issued a $175.00 target price on shares of Euronet Worldwide in a research note on Tuesday, October 1st. Finally, Citigroup raised their target price on shares of Euronet Worldwide from $168.00 to $189.00 and gave the company a buy rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $171.89.
Shares of EEFT stock traded up $1.12 during mid-day trading on Monday, reaching $155.31. The company’s stock had a trading volume of 361,230 shares, compared to its average volume of 455,676. The company’s 50 day simple moving average is $146.30 and its 200-day simple moving average is $153.39. Euronet Worldwide has a 12-month low of $91.78 and a 12-month high of $171.25. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $8.27 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 2.28 and a beta of 1.09.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Euronet Worldwide by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,799,013 shares of the business services provider’s stock worth $807,386,000 after buying an additional 223,005 shares during the period. BlackRock Inc. grew its holdings in Euronet Worldwide by 6.1% during the 2nd quarter. BlackRock Inc. now owns 2,376,979 shares of the business services provider’s stock worth $399,903,000 after acquiring an additional 135,698 shares in the last quarter. Invesco Ltd. grew its holdings in Euronet Worldwide by 211.1% during the 2nd quarter. Invesco Ltd. now owns 936,781 shares of the business services provider’s stock worth $157,603,000 after acquiring an additional 635,710 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in Euronet Worldwide by 0.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 550,611 shares of the business services provider’s stock worth $92,635,000 after acquiring an additional 5,043 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in Euronet Worldwide during the 2nd quarter worth $84,681,000. 93.73% of the stock is currently owned by hedge funds and other institutional investors.
About Euronet Worldwide
Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.
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