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

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

EEFT has been the topic of several other research reports. Citigroup upped their price objective on Euronet Worldwide from $120.00 to $135.00 and gave the company a buy rating in a research note on Tuesday, May 28th. StockNews.com downgraded Euronet Worldwide from a buy rating to a hold rating in a report on Friday, August 9th. Monness Crespi & Hardt upped their price objective on shares of Euronet Worldwide from $140.00 to $145.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, Wolfe Research upgraded 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $124.11.

Euronet Worldwide Trading Down 2.6 %

Shares of Euronet Worldwide stock opened at $99.78 on Wednesday. The stock has a market cap of $4.58 billion, a P/E ratio of 17.57 and a beta of 1.46. 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 12-month low of $73.84 and a 12-month high of $117.66. The business’s 50 day moving average is $102.00 and its 200-day moving average is $106.74.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.21. The firm 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 company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter 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.

Insider Activity at Euronet Worldwide

In other Euronet Worldwide news, Director Thomas A. Mcdonnell acquired 3,206 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $93.86 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Euronet Worldwide

Hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in shares of Euronet Worldwide during the 2nd quarter worth $200,000. Truist Financial Corp lifted its position in Euronet Worldwide by 1.5% during the second quarter. Truist Financial Corp now owns 168,362 shares of the business services provider’s stock worth $17,425,000 after purchasing an additional 2,564 shares during the period. Algert Global LLC lifted its position in Euronet Worldwide by 1.1% during the second quarter. Algert Global LLC now owns 118,955 shares of the business services provider’s stock worth $12,312,000 after purchasing an additional 1,278 shares during the period. SkyView Investment Advisors LLC grew its stake in Euronet Worldwide by 28.7% during the second 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 bought a new position in Euronet Worldwide in the 2nd quarter valued at about $5,175,000. Institutional investors 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.