Nuvei (NASDAQ:NVEI) Given a $27.00 Price Target at National Bankshares

National Bankshares set a $27.00 price target on Nuvei (NASDAQ:NVEI) in a research note published on Monday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Citigroup dropped their target price on Nuvei from $42.00 to $20.00 and set a neutral rating for the company in a research report on Monday. TheStreet cut Nuvei from a c- rating to a d rating in a report on Monday, May 22nd. The Goldman Sachs Group cut Nuvei from a buy rating to a neutral rating and dropped their target price for the stock from $41.00 to $22.00 in a report on Wednesday, August 9th. Credit Suisse Group dropped their price objective on Nuvei from $42.00 to $26.00 and set an outperform rating for the company in a report on Thursday, August 10th. Finally, Bank of America dropped their price objective on Nuvei from $44.00 to $36.00 in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $37.54.

Nuvei Price Performance

Shares of NASDAQ:NVEI opened at $16.77 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $23.87 and a 200 day moving average price of $31.64. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 119.79, a PEG ratio of 1.37 and a beta of 2.14. Nuvei has a twelve month low of $15.87 and a twelve month high of $43.81.

Nuvei (NASDAQ:NVEI) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). Nuvei had a net margin of 2.03% and a return on equity of 6.83%. The business had revenue of $307.03 million during the quarter, compared to analyst estimates of $306.48 million. Research analysts predict that Nuvei will post 0.83 earnings per share for the current year.

Nuvei Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.79%. Nuvei’s dividend payout ratio (DPR) is 214.29%.

Hedge Funds Weigh In On Nuvei

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVEI. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Nuvei during the first quarter worth about $26,000. Blair William & Co. IL increased its holdings in shares of Nuvei by 8.8% during the 1st quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock worth $328,000 after purchasing an additional 350 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Nuvei by 6.0% in the 1st quarter. New York State Common Retirement Fund now owns 6,399 shares of the company’s stock valued at $279,000 after purchasing an additional 360 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Nuvei by 6.8% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,370 shares of the company’s stock worth $277,000 after purchasing an additional 403 shares during the last quarter. Finally, State Street Corp grew its position in shares of Nuvei by 1.1% during the 1st quarter. State Street Corp now owns 41,728 shares of the company’s stock worth $1,816,000 after buying an additional 444 shares during the period. 26.19% of the stock is owned by hedge funds and other institutional investors.

Nuvei Company Profile

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.