Euronet Worldwide (NASDAQ:EEFT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

A number of other equities analysts also recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and set a $136.00 target price on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Oppenheimer assumed coverage on Euronet Worldwide in a research report on Tuesday, October 1st. They set an “outperform” rating and a $121.00 price objective for the company. Needham & Company LLC dropped their target price on Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Citigroup downgraded Euronet Worldwide from a “buy” rating to a “neutral” rating and reduced their price target for the company from $118.00 to $110.00 in a report on Friday, October 18th. Finally, Monness Crespi & Hardt upgraded shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.38.

Euronet Worldwide Stock Down 0.3 %

Euronet Worldwide stock traded down $0.34 during trading hours on Tuesday, hitting $101.85. 16,967 shares of the stock traded hands, compared to its average volume of 303,246. Euronet Worldwide has a one year low of $81.99 and a one year high of $117.66. The firm’s 50-day moving average price is $99.38 and its two-hundred day moving average price is $103.98. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. The company has a market cap of $4.47 billion, a PE ratio of 14.77 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.11. Euronet Worldwide had a return on equity of 26.86% and a net margin of 8.49%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned $2.53 earnings per share. On average, research analysts forecast that Euronet Worldwide will post 7.87 EPS for the current year.

Insider Buying and Selling

In related news, CEO Juan Bianchi sold 4,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the completion of the sale, the chief executive officer now owns 12,440 shares in the company, valued at approximately $1,276,095.20. This represents a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Euronet Worldwide

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Euronet Worldwide during the first quarter valued at approximately $50,000. Summit Securities Group LLC purchased a new stake in shares of Euronet Worldwide in the 2nd quarter worth $57,000. Covestor Ltd raised its holdings in Euronet Worldwide by 174.9% in the 1st quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock worth $60,000 after purchasing an additional 348 shares during the period. GAMMA Investing LLC lifted its position in Euronet Worldwide by 69.5% during the second quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 241 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Euronet Worldwide during the second quarter valued at about $80,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.