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

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

A number of other analysts have also recently commented on NVEI. BMO Capital Markets cut their target price on Nuvei from $30.00 to $28.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Raymond James lifted their target price on Nuvei from $27.00 to $30.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. Barclays assumed coverage on Nuvei in a research report on Wednesday, December 20th. They issued an overweight rating and a $34.00 price target on the stock. Wells Fargo & Company dropped their price target on Nuvei from $29.00 to $27.00 and set an equal weight rating on the stock in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. boosted their price target on Nuvei from $27.00 to $32.00 and gave the company an overweight rating in a research report on Monday, December 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $31.88.

Read Our Latest Analysis on NVEI

Nuvei Stock Down 0.5 %

Nuvei stock opened at $32.26 on Monday. Nuvei has a 1-year low of $13.32 and a 1-year high of $43.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $4.50 billion, a PE ratio of -537.58, a P/E/G ratio of 1.95 and a beta of 2.68. The stock’s fifty day moving average is $26.07 and its two-hundred day moving average is $21.99.

Nuvei (NASDAQ:NVEIGet Free Report) last posted its earnings results on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $321.52 million for the quarter, compared to analysts’ expectations of $319.60 million. On average, sell-side analysts expect that Nuvei will post 1.27 EPS for the current fiscal year.

Nuvei Dividend Announcement

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

Institutional Investors Weigh In On Nuvei

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Nuvei by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company’s stock valued at $59,943,000 after purchasing an additional 54,472 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Nuvei by 18.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 607,159 shares of the company’s stock valued at $15,944,000 after purchasing an additional 95,879 shares in the last quarter. Virtu Financial LLC acquired a new stake in Nuvei during the 4th quarter valued at $248,000. Sylebra Capital LLC increased its holdings in Nuvei by 281.8% during the 4th quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock valued at $54,106,000 after purchasing an additional 1,520,721 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Nuvei by 488.9% during the 4th quarter. Nuveen Asset Management LLC now owns 628,549 shares of the company’s stock valued at $16,578,000 after purchasing an additional 521,824 shares in the last quarter. 42.45% of the stock is owned by institutional investors and hedge funds.

About Nuvei

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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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