Oppenheimer Issues Positive Forecast for Euronet Worldwide (NASDAQ:EEFT) Stock Price

Euronet Worldwide (NASDAQ:EEFT) had its target price boosted by Oppenheimer from $121.00 to $135.00 in a research note issued to investors on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the business services provider’s stock.

Other equities analysts have also recently issued research reports about the company. DA Davidson restated a “buy” rating and set a $136.00 price target on shares of Euronet Worldwide in a report on Tuesday, October 8th. Monness Crespi & Hardt upgraded Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 24th. Citigroup cut Euronet Worldwide from a “buy” rating to a “neutral” rating and cut their price target for the company from $118.00 to $110.00 in a report on Friday, October 18th. StockNews.com upgraded Euronet Worldwide from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC lowered their price objective on Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.13.

Euronet Worldwide Stock Performance

NASDAQ:EEFT opened at $106.61 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. Euronet Worldwide has a 12-month low of $86.26 and a 12-month high of $117.66. The stock has a 50-day moving average price of $99.99 and a 200 day moving average price of $103.70. The stock has a market capitalization of $4.68 billion, a P/E ratio of 15.41 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share 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 analysts’ expectations of $1.04 billion. Euronet Worldwide had a return on equity of 26.86% and a net margin of 8.49%. During the same quarter last year, the business posted $2.53 EPS. Equities research analysts forecast that Euronet Worldwide will post 7.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Juan Bianchi sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 directly owns 12,440 shares of the company’s stock, valued at approximately $1,276,095.20. This trade represents a 24.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Euronet Worldwide

Institutional investors and hedge funds have recently modified their holdings of the business. Ellsworth Advisors LLC bought a new stake in Euronet Worldwide during the 2nd quarter valued at $514,000. SG Capital Management LLC raised its position in Euronet Worldwide by 106.8% during the 1st quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock valued at $4,610,000 after purchasing an additional 21,654 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Euronet Worldwide by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 767,293 shares of the business services provider’s stock valued at $79,415,000 after purchasing an additional 10,689 shares in the last quarter. Savant Capital LLC raised its position in Euronet Worldwide by 199.3% during the 2nd quarter. Savant Capital LLC now owns 8,928 shares of the business services provider’s stock valued at $924,000 after purchasing an additional 5,945 shares in the last quarter. Finally, Maverick Capital Ltd. raised its position in Euronet Worldwide by 507.8% during the 2nd quarter. Maverick Capital Ltd. now owns 14,916 shares of the business services provider’s stock valued at $1,544,000 after purchasing an additional 12,462 shares in 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.