Euronet Worldwide (NASDAQ:EEFT) PT Lowered to $120.00 at Needham & Company LLC

Euronet Worldwide (NASDAQ:EEFT) had its price objective trimmed by Needham & Company LLC from $125.00 to $120.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other research analysts have also issued reports on EEFT. Citigroup lowered Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $118.00 to $110.00 in a research report on Friday, October 18th. Oppenheimer assumed coverage on Euronet Worldwide in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 price objective on the stock. StockNews.com downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Monness Crespi & Hardt boosted their price target on shares of Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, DA Davidson reiterated a “buy” rating and set a $136.00 price objective on shares of Euronet Worldwide in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.38.

Euronet Worldwide Stock Performance

NASDAQ:EEFT opened at $100.50 on Thursday. The stock’s 50-day moving average is $100.42 and its 200-day moving average is $104.21. The stock has a market cap of $4.51 billion, a P/E ratio of 17.45 and a beta of 1.46. Euronet Worldwide has a 1-year low of $75.41 and a 1-year 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 posted its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.04 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. During the same period in the previous year, the firm posted $2.53 EPS. Equities research analysts anticipate that Euronet Worldwide will post 7.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Thomas A. Mcdonnell purchased 3,206 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $93.86 per share, with a total value of $300,915.16. Following the completion of the purchase, the director now owns 90,000 shares in the company, valued at approximately $8,447,400. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Juan Bianchi sold 4,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total value of $410,320.00. Following the transaction, the chief executive officer now directly owns 12,440 shares in the company, valued at $1,276,095.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas A. Mcdonnell purchased 3,206 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $93.86 per share, with a total value of $300,915.16. Following the purchase, the director now directly owns 90,000 shares in the company, valued at $8,447,400. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in Euronet Worldwide in the 1st quarter valued at about $50,000. Summit Securities Group LLC bought a new position in shares of Euronet Worldwide in the second quarter valued at approximately $57,000. Covestor Ltd boosted its position in shares of Euronet Worldwide by 174.9% during the first quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock valued at $60,000 after buying an additional 348 shares during the last quarter. GAMMA Investing LLC grew its holdings in Euronet Worldwide by 69.5% during the second quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock worth $61,000 after buying an additional 241 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Euronet Worldwide in the 2nd quarter valued at $80,000. 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.