Euronet Worldwide (NASDAQ:EEFT) Price Target Cut to $120.00 by Analysts at Needham & Company LLC

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

EEFT has been the subject of several other research reports. DA Davidson reissued a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a research note on Tuesday, October 8th. StockNews.com cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Citigroup cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and decreased their price target for the company from $118.00 to $110.00 in a research report on Friday, October 18th. Monness Crespi & Hardt upped their price target on shares of Euronet Worldwide from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Oppenheimer began coverage on shares of Euronet Worldwide in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 price target for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Euronet Worldwide presently has a consensus rating of “Moderate Buy” and an average target price of $125.38.

Euronet Worldwide Price Performance

Shares of Euronet Worldwide stock traded down $0.16 on Thursday, reaching $102.10. 66,421 shares of the stock were exchanged, compared to its average volume of 304,466. The firm’s 50 day moving average is $100.47 and its 200-day moving average is $104.32. Euronet Worldwide has a one year low of $75.41 and a one year high of $117.66. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $4.68 billion, a PE ratio of 18.00 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.04 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. During the same quarter in the prior year, the firm earned $2.53 EPS. As a group, analysts anticipate that Euronet Worldwide will post 7.88 EPS for the current fiscal year.

Insider Transactions at Euronet Worldwide

In related news, CEO Juan Bianchi sold 4,000 shares of the 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 transaction, the chief executive officer now directly owns 12,440 shares of the company’s stock, valued at $1,276,095.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Juan Bianchi sold 4,000 shares of the 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 transaction, the chief executive officer now directly owns 12,440 shares of the company’s stock, valued at $1,276,095.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Mcdonnell bought 3,206 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought 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 owns 90,000 shares of the company’s stock, valued at $8,447,400. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EEFT. Clearbridge Investments LLC increased its holdings in Euronet Worldwide by 4.5% during the first quarter. Clearbridge Investments LLC now owns 567,058 shares of the business services provider’s stock worth $62,337,000 after buying an additional 24,566 shares during the last quarter. LSV Asset Management purchased a new stake in Euronet Worldwide during the first quarter worth about $1,638,000. Ellsworth Advisors LLC purchased a new stake in Euronet Worldwide during the second quarter worth about $514,000. SG Capital Management LLC increased its holdings in Euronet Worldwide by 106.8% during the first quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock worth $4,610,000 after buying an additional 21,654 shares during the last quarter. Finally, New South Capital Management Inc. increased its holdings in Euronet Worldwide by 21.8% during the first quarter. New South Capital Management Inc. now owns 538,419 shares of the business services provider’s stock worth $59,188,000 after buying an additional 96,278 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.