Needham & Company LLC reaffirmed their buy rating on shares of Euronet Worldwide (NASDAQ:EEFT) in a research report report published on Wednesday morning, TipRanks reports. The brokerage currently has a $115.00 price target on the business services provider’s stock.

A number of other research analysts also recently commented on EEFT. Citigroup downgraded Euronet Worldwide from a buy rating to a neutral rating and set a $109.00 price target for the company. in a report on Friday, June 19th. Wells Fargo & Co reissued a buy rating on shares of Euronet Worldwide in a report on Wednesday, April 29th. Goldman Sachs Group started coverage on Euronet Worldwide in a report on Tuesday, July 14th. They issued a neutral rating and a $101.00 price target for the company. Zacks Investment Research upgraded Euronet Worldwide from a hold rating to a strong-buy rating and set a $101.00 price objective on the stock in a research note on Wednesday, July 1st. Finally, BidaskClub cut Euronet Worldwide from a sell rating to a strong sell rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $124.00.

Shares of NASDAQ EEFT opened at $96.14 on Wednesday. Euronet Worldwide has a 1-year low of $61.27 and a 1-year high of $167.64. The business has a 50-day moving average of $97.70 and a 200-day moving average of $108.44. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 43.11 and a beta of 1.22.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.41. The firm had revenue of $527.80 million during the quarter, compared to the consensus estimate of $482.81 million. Euronet Worldwide had a return on equity of 18.44% and a net margin of 5.02%. Euronet Worldwide’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. Research analysts expect that Euronet Worldwide will post 1.05 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in EEFT. Alliancebernstein L.P. raised its position in shares of Euronet Worldwide by 183.3% during the 1st quarter. Alliancebernstein L.P. now owns 2,385,484 shares of the business services provider’s stock worth $204,484,000 after purchasing an additional 1,543,524 shares during the period. Wasatch Advisors Inc. increased its position in Euronet Worldwide by 40.0% in the 1st quarter. Wasatch Advisors Inc. now owns 2,530,344 shares of the business services provider’s stock valued at $216,901,000 after acquiring an additional 723,555 shares during the period. Norges Bank acquired a new stake in Euronet Worldwide in the 4th quarter valued at approximately $74,524,000. Eaton Vance Management increased its position in Euronet Worldwide by 566.3% in the 1st quarter. Eaton Vance Management now owns 426,046 shares of the business services provider’s stock valued at $36,718,000 after acquiring an additional 362,106 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Euronet Worldwide by 44.4% in the 1st quarter. Bank of New York Mellon Corp now owns 783,702 shares of the business services provider’s stock valued at $67,179,000 after acquiring an additional 240,884 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

Euronet Worldwide Company Profile

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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Analyst Recommendations for Euronet Worldwide (NASDAQ:EEFT)

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