Oppenheimer Cuts Euronet Worldwide (NASDAQ:EEFT) Price Target to $128.00

Euronet Worldwide (NASDAQ:EEFT) had its target price reduced by Oppenheimer from $135.00 to $128.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other analysts have also recently commented on EEFT. Monness Crespi & Hardt raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 24th. StockNews.com downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Citigroup lowered shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $118.00 to $110.00 in a research note on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Euronet Worldwide in a research note on Thursday, December 12th. Finally, DA Davidson reiterated a “buy” rating and set a $136.00 price objective on shares of Euronet Worldwide in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.25.

Euronet Worldwide Trading Up 0.6 %

Shares of EEFT stock opened at $103.67 on Thursday. The stock has a 50-day moving average of $102.40 and a 200-day moving average of $102.37. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.95 and a beta of 1.44. Euronet Worldwide has a 1-year low of $91.07 and a 1-year high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.11. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $2.53 EPS. On average, equities research analysts forecast that Euronet Worldwide will post 7.87 earnings per share for the current year.

Insider Activity

In related news, CEO Nikos Fountas sold 21,479 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $103.56, for a total value of $2,224,365.24. Following the completion of the sale, the chief executive officer now directly owns 52,370 shares of the company’s stock, valued at approximately $5,423,437.20. This represents a 29.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Caponecchi sold 52,034 shares of Euronet Worldwide stock in a transaction on Monday, November 25th. The stock was sold at an average price of $106.61, for a total transaction of $5,547,344.74. Following the transaction, the chief executive officer now directly owns 90,288 shares in the company, valued at $9,625,603.68. This represents a 36.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,910 shares of company stock worth $8,780,102 over the last three months. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Euronet Worldwide by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,356,229 shares of the business services provider’s stock worth $333,039,000 after purchasing an additional 27,254 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Euronet Worldwide by 13.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,064,233 shares of the business services provider’s stock valued at $105,604,000 after acquiring an additional 127,240 shares in the last quarter. Van Berkom & Associates Inc. increased its position in shares of Euronet Worldwide by 1.4% during the second quarter. Van Berkom & Associates Inc. now owns 1,022,153 shares of the business services provider’s stock valued at $105,793,000 after acquiring an additional 14,090 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in Euronet Worldwide by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 767,293 shares of the business services provider’s stock worth $79,415,000 after acquiring an additional 10,689 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Euronet Worldwide by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 755,190 shares of the business services provider’s stock worth $78,172,000 after purchasing an additional 113,685 shares during the last quarter. 91.60% of the stock is owned by 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. 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.