Euronet Worldwide (NASDAQ:EEFT) Coverage Initiated at Oppenheimer

by · The Markets Daily

Oppenheimer began coverage on shares of Euronet Worldwide (NASDAQ:EEFT – Get Free Report) in a report released on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $121.00 price target on the business services provider’s stock. Oppenheimer’s price objective would indicate a potential upside of 23.98% from the company’s previous close.

A number of other equities research analysts have also weighed in on EEFT. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 target price on shares of Euronet Worldwide in a research note on Wednesday, September 4th. Monness Crespi & Hardt raised their price objective on shares of Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, StockNews.com downgraded 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 given a buy rating to the company. According to MarketBeat.com, Euronet Worldwide has a consensus rating of “Moderate Buy” and a consensus target price of $125.33.

Get Our Latest Research Report on EEFT

Euronet Worldwide Stock Down 1.2 %

Shares of NASDAQ:EEFT opened at $97.60 on Tuesday. The stock’s 50-day moving average is $100.60 and its 200 day moving average is $105.52. The company has a market cap of $4.48 billion, a PE ratio of 17.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19. Euronet Worldwide has a 1 year low of $73.84 and a 1 year high of $117.66.

Euronet Worldwide (NASDAQ:EEFT – Get Free Report) last posted its earnings results on Thursday, July 18th. The business services provider reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.21. Euronet Worldwide had a return on equity of 27.81% and a net margin of 7.46%. The firm had revenue of $986.20 million for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Euronet Worldwide will post 7.86 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Euronet Worldwide

Several institutional investors and hedge funds have recently added to or reduced their stakes in EEFT. Headlands Technologies LLC bought a new position in shares of Euronet Worldwide during the 1st quarter valued at $50,000. Covestor Ltd lifted its holdings in Euronet Worldwide by 174.9% in the first quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 348 shares during the period. Summit Securities Group LLC purchased a new position in Euronet Worldwide in the second quarter worth about $57,000. GAMMA Investing LLC boosted its position in Euronet Worldwide by 69.5% in the second quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock worth $61,000 after purchasing an additional 241 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Euronet Worldwide during the 2nd quarter valued at about $80,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Company Profile

(Get Free Report)

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.

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