Euronet Worldwide (NASDAQ:EEFT) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Euronet Worldwide (NASDAQ:EEFT) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $121.00 target price on the business services provider’s stock.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Euronet Worldwide from a buy rating to a hold rating in a report on Friday, August 9th. Needham & Company LLC reaffirmed a buy rating and set a $125.00 price objective on shares of Euronet Worldwide in a report on Wednesday, September 4th. Finally, Monness Crespi & Hardt upped their target price on Euronet Worldwide from $140.00 to $145.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $125.33.

Euronet Worldwide Price Performance

Shares of EEFT opened at $96.34 on Tuesday. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 16.96 and a beta of 1.46. The firm’s fifty day simple moving average is $100.58 and its 200-day simple moving average is $105.47. Euronet Worldwide has a twelve month low of $73.84 and a twelve month high of $117.66. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.21. Euronet Worldwide had a return on equity of 27.81% and a net margin of 7.46%. The company had revenue of $986.20 million during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $1.84 EPS. Euronet Worldwide’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts forecast that Euronet Worldwide will post 7.86 EPS for the current fiscal year.

Insider Transactions at Euronet Worldwide

In other news, Director Thomas A. Mcdonnell acquired 3,206 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $93.86 per share, with a total value of $300,915.16. Following the purchase, the director now owns 90,000 shares of the company’s stock, valued at approximately $8,447,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Juan Bianchi sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $102.58, for a total transaction of $410,320.00. Following the sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at $1,276,095.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas A. Mcdonnell bought 3,206 shares of the stock in a transaction on Monday, August 5th. The shares were bought at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the completion of the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $8,447,400. The disclosure for this purchase can be found here. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Euronet Worldwide

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Euronet Worldwide during the second quarter worth $200,000. Truist Financial Corp increased its position in shares of Euronet Worldwide by 1.5% in the second quarter. Truist Financial Corp now owns 168,362 shares of the business services provider’s stock valued at $17,425,000 after buying an additional 2,564 shares in the last quarter. Algert Global LLC raised its stake in shares of Euronet Worldwide by 1.1% during the 2nd quarter. Algert Global LLC now owns 118,955 shares of the business services provider’s stock worth $12,312,000 after buying an additional 1,278 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Euronet Worldwide by 28.7% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,686 shares of the business services provider’s stock worth $692,000 after buying an additional 1,491 shares in the last quarter. Finally, Shellback Capital LP acquired a new stake in Euronet Worldwide in the 2nd quarter valued at about $5,175,000. Institutional investors and hedge funds own 91.60% 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. 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.