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

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

EEFT has been the topic of several other reports. Needham & Company LLC reaffirmed a buy rating and issued a $125.00 price target on shares of Euronet Worldwide in a research report on Wednesday, September 4th. Monness Crespi & Hardt boosted their target price 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, StockNews.com downgraded shares of Euronet Worldwide from a buy rating to a hold rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Euronet Worldwide currently has an average rating of Moderate Buy and an average target price of $125.33.

Euronet Worldwide Price Performance

NASDAQ EEFT opened at $97.72 on Tuesday. The company has a market cap of $4.48 billion, a P/E ratio of 17.20 and a beta of 1.46. Euronet Worldwide has a 1 year low of $73.84 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. The company has a fifty day simple moving average of $100.54 and a 200 day simple moving average of $105.40.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly 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 business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 earnings per share. On average, sell-side analysts predict that Euronet Worldwide will post 7.86 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Euronet Worldwide

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in Euronet Worldwide during the second quarter worth about $200,000. Truist Financial Corp increased its holdings in Euronet Worldwide by 1.5% during the 2nd quarter. Truist Financial Corp now owns 168,362 shares of the business services provider’s stock valued at $17,425,000 after purchasing an additional 2,564 shares in the last quarter. Algert Global LLC raised its position in Euronet Worldwide by 1.1% in the 2nd quarter. Algert Global LLC now owns 118,955 shares of the business services provider’s stock valued at $12,312,000 after purchasing an additional 1,278 shares during the last quarter. SkyView Investment Advisors LLC raised its position in 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 valued at $692,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Shellback Capital LP bought a new stake in shares of Euronet Worldwide during the second quarter worth $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.