Euronet Worldwide (NASDAQ:EEFT) Upgraded to Buy by Citigroup

Citigroup upgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a neutral rating to a buy rating in a research report released on Monday morning, MarketBeat Ratings reports. They currently have $120.00 target price on the business services provider’s stock, up from their prior target price of $116.00.

Several other research analysts have also recently commented on the stock. Stephens raised shares of Euronet Worldwide from an equal weight rating to an overweight rating and set a $120.00 target price on the stock in a report on Thursday, February 1st. DA Davidson reaffirmed a buy rating and issued a $126.00 price target on shares of Euronet Worldwide in a research note on Monday, April 15th. Needham & Company LLC increased their price objective on shares of Euronet Worldwide from $115.00 to $120.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. StockNews.com raised shares of Euronet Worldwide from a hold rating to a buy rating in a report on Thursday, February 15th. Finally, Evercore ISI upped their price target on shares of Euronet Worldwide from $118.00 to $135.00 and gave the stock an outperform rating in a report on Tuesday, March 26th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of $120.75.

Euronet Worldwide Stock Performance

NASDAQ EEFT opened at $103.89 on Monday. The stock has a market cap of $4.76 billion, a PE ratio of 18.82 and a beta of 1.39. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a 50-day moving average of $107.80 and a 200-day moving average of $96.88. Euronet Worldwide has a 52-week low of $73.84 and a 52-week high of $121.55.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, February 7th. The business services provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.34. Euronet Worldwide had a net margin of 7.63% and a return on equity of 25.23%. The firm had revenue of $957.70 million for the quarter, compared to analysts’ expectations of $844.59 million. During the same period in the prior year, the firm earned $1.12 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that Euronet Worldwide will post 7.51 EPS for the current year.

Hedge Funds Weigh In On Euronet Worldwide

A number of institutional investors have recently added to or reduced their stakes in EEFT. SkyView Investment Advisors LLC boosted its position in Euronet Worldwide by 5.5% in the third quarter. SkyView Investment Advisors LLC now owns 3,572 shares of the business services provider’s stock valued at $283,000 after buying an additional 186 shares in the last quarter. FCF Advisors LLC acquired a new position in Euronet Worldwide in the 4th quarter worth about $794,000. Voss Capital LLC raised its position in Euronet Worldwide by 52.8% in the fourth quarter. Voss Capital LLC now owns 565,256 shares of the business services provider’s stock valued at $57,368,000 after purchasing an additional 195,404 shares during the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of Euronet Worldwide during the third quarter worth about $35,309,000. Finally, Algert Global LLC boosted its position in Euronet Worldwide by 133.5% during the 3rd quarter. Algert Global LLC now owns 52,014 shares of the business services provider’s stock worth $4,129,000 after buying an additional 29,739 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.