Nuvei (NASDAQ:NVEI) Lowered to “Market Perform” at William Blair

William Blair lowered shares of Nuvei (NASDAQ:NVEIFree Report) from an outperform rating to a market perform rating in a report published on Monday, Zacks.com reports.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on Nuvei from $27.00 to $32.00 and gave the stock an overweight rating in a report on Monday, December 18th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $34.00 price target (up previously from $31.00) on shares of Nuvei in a research note on Tuesday. Barclays began coverage on Nuvei in a research note on Wednesday, December 20th. They issued an overweight rating and a $34.00 price target on the stock. National Bankshares increased their price target on Nuvei from $23.00 to $30.00 and gave the company an outperform rating in a research note on Friday, January 26th. Finally, Raymond James increased their price target on Nuvei from $27.00 to $30.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $31.88.

Read Our Latest Analysis on NVEI

Nuvei Stock Down 0.5 %

NASDAQ:NVEI opened at $32.26 on Monday. The stock’s fifty day moving average price is $26.07 and its two-hundred day moving average price is $21.99. Nuvei has a 52-week low of $13.32 and a 52-week high of $43.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $4.50 billion, a price-to-earnings ratio of -537.58, a P/E/G ratio of 1.95 and a beta of 2.68.

Nuvei (NASDAQ:NVEIGet Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. The firm had revenue of $321.52 million for the quarter, compared to the consensus estimate of $319.60 million. On average, analysts anticipate that Nuvei will post 1.27 EPS for the current year.

Nuvei Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Tuesday, March 19th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, March 18th. Nuvei’s dividend payout ratio is currently -666.56%.

Hedge Funds Weigh In On Nuvei

A number of large investors have recently added to or reduced their stakes in NVEI. Bank of New York Mellon Corp increased its holdings in Nuvei by 14.8% during the 1st quarter. Bank of New York Mellon Corp now owns 68,197 shares of the company’s stock worth $5,141,000 after purchasing an additional 8,809 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in Nuvei during the 1st quarter worth about $26,000. APG Asset Management N.V. bought a new position in Nuvei during the 1st quarter worth about $212,000. Great West Life Assurance Co. Can bought a new position in Nuvei during the 1st quarter worth about $914,000. Finally, Blair William & Co. IL increased its holdings in 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 in the last quarter. Institutional investors own 42.45% of the company’s stock.

Nuvei Company Profile

(Get Free Report)

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. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.

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Analyst Recommendations for Nuvei (NASDAQ:NVEI)

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