Euronet Worldwide (NASDAQ:EEFT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Euronet Worldwide (NASDAQ:EEFT) in a research report report published on Wednesday, Benzinga reports. Needham & Company LLC currently has a $125.00 price target on the business services provider’s stock.

EEFT has been the subject of a number of other research reports. StockNews.com cut Euronet Worldwide from a buy rating to a hold rating in a research report on Friday, August 9th. Monness Crespi & Hardt upped their price objective on Euronet Worldwide from $140.00 to $145.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Citigroup lifted their price objective on Euronet Worldwide from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. Finally, Wolfe Research raised shares of Euronet Worldwide from an underperform rating to a peer perform rating in a research note on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Euronet Worldwide presently has an average rating of Moderate Buy and an average target price of $124.11.

Euronet Worldwide Stock Performance

Shares of EEFT opened at $99.78 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.85. Euronet Worldwide has a 52-week low of $73.84 and a 52-week high of $117.66. The company has a 50-day simple moving average of $102.00 and a 200-day simple moving average of $106.73. The company has a market capitalization of $4.58 billion, a PE ratio of 17.57 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Thursday, July 18th. The business services provider reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.21. The company had revenue of $986.20 million during the quarter, compared to analysts’ expectations of $1.09 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $1.84 earnings per share. Equities research analysts predict that Euronet Worldwide will post 7.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas A. Mcdonnell acquired 3,206 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $93.86 per share, with a total value of $300,915.16. Following the purchase, the director now directly owns 90,000 shares of the company’s stock, valued at $8,447,400. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its holdings in shares of Euronet Worldwide by 242.7% during the 4th quarter. Quadrant Capital Group LLC now owns 353 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 250 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Euronet Worldwide in the first quarter worth about $50,000. First Horizon Advisors Inc. grew its stake in shares of Euronet Worldwide by 26.4% in the fourth quarter. First Horizon Advisors Inc. now owns 503 shares of the business services provider’s stock valued at $51,000 after buying an additional 105 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Euronet Worldwide during the 2nd quarter valued at about $57,000. Finally, Covestor Ltd lifted its position in Euronet Worldwide by 174.9% during the 1st quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock worth $60,000 after acquiring an additional 348 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer 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 and prepaid card outsourcing, card issuing, and merchant acquiring services.