William Blair Downgrades Nuvei (NASDAQ:NVEI) to Market Perform

Nuvei (NASDAQ:NVEIGet Free Report) was downgraded by stock analysts at William Blair from an “outperform” rating to a “market perform” rating in a report issued on Monday, Zacks.com reports.

A number of other equities research analysts have also weighed in on NVEI. Barclays started coverage on Nuvei in a report on Wednesday, December 20th. They issued an “overweight” rating and a $34.00 price objective on the stock. Scotiabank reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of Nuvei in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $34.00 price objective (up previously from $31.00) on shares of Nuvei in a report on Tuesday. Wells Fargo & Company lowered their price objective on Nuvei from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Nuvei in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.88.

View Our Latest Report on Nuvei

Nuvei Stock Performance

Shares of NVEI stock opened at $32.26 on Monday. The stock has a market capitalization of $4.50 billion, a PE ratio of -537.58, a price-to-earnings-growth ratio of 1.95 and a beta of 2.68. Nuvei has a 52-week low of $13.32 and a 52-week high of $43.81. The stock’s 50-day moving average price is $26.07 and its 200 day moving average price is $21.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61.

Nuvei (NASDAQ:NVEIGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $321.52 million for the quarter, compared to analysts’ expectations of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. As a group, equities research analysts forecast that Nuvei will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Nuvei

A number of institutional investors and hedge funds have recently bought and sold shares of NVEI. Capital International Investors lifted its stake in Nuvei by 102.5% in the 1st quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock valued at $546,607,000 after buying an additional 3,679,400 shares in the last quarter. Wellington Management Group LLP raised its holdings in Nuvei by 70.0% in the 1st quarter. Wellington Management Group LLP now owns 4,672,026 shares of the company’s stock valued at $352,221,000 after acquiring an additional 1,923,114 shares during the last quarter. Sylebra Capital LLC raised its holdings in Nuvei by 281.8% in the 4th quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock valued at $54,106,000 after acquiring an additional 1,520,721 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Nuvei in the 4th quarter valued at $30,845,000. Finally, Nuveen Asset Management LLC raised its holdings in Nuvei by 488.9% in the 4th quarter. Nuveen Asset Management LLC now owns 628,549 shares of the company’s stock valued at $16,578,000 after acquiring an additional 521,824 shares during the last quarter. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Nuvei Company Profile

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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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