Euronet Worldwide (NASDAQ:EEFT) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Euronet Worldwide (NASDAQ:EEFT) in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a $125.00 price objective on the business services provider’s stock.

Several other brokerages have also recently issued reports on EEFT. Wolfe Research raised shares of Euronet Worldwide from an underperform rating to a peer perform rating in a research report on Friday, May 17th. Citigroup boosted their price objective on Euronet Worldwide from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. Monness Crespi & Hardt raised their target price on shares of Euronet Worldwide from $140.00 to $145.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, StockNews.com lowered shares of Euronet Worldwide from a buy rating to a hold rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Euronet Worldwide presently has an average rating of Moderate Buy and a consensus target price of $124.11.

Euronet Worldwide Stock Down 2.6 %

Shares of EEFT opened at $99.78 on Wednesday. The company’s 50-day moving average price is $102.00 and its 200 day moving average price is $106.73. Euronet Worldwide has a 12-month low of $73.84 and a 12-month high of $117.66. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.58 billion, a P/E ratio of 17.57 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $2.25 EPS for the quarter, topping the consensus estimate of $2.04 by $0.21. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The firm had revenue of $986.20 million for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $1.84 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Euronet Worldwide will post 7.88 earnings per share for the current year.

Insider Activity

In other news, Director Thomas A. Mcdonnell acquired 3,206 shares of Euronet Worldwide stock in a transaction on Monday, August 5th. The stock was bought at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the completion of the purchase, the director now owns 90,000 shares in the company, valued at $8,447,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Euronet Worldwide

A number of institutional investors and hedge funds have recently made changes to their positions in EEFT. Norges Bank purchased a new stake in Euronet Worldwide during the 4th quarter valued at approximately $54,947,000. Ophir Asset Management Pty Ltd purchased a new position in Euronet Worldwide in the 4th quarter valued at $31,186,000. Burgundy Asset Management Ltd. increased its stake in Euronet Worldwide by 67.8% in the 4th quarter. Burgundy Asset Management Ltd. now owns 746,579 shares of the business services provider’s stock valued at $75,770,000 after buying an additional 301,771 shares during the period. Kodai Capital Management LP purchased a new position in Euronet Worldwide during the 4th quarter worth $23,728,000. Finally, Wasatch Advisors LP lifted its stake in shares of Euronet Worldwide by 51.2% in the 4th quarter. Wasatch Advisors LP now owns 579,334 shares of the business services provider’s stock worth $58,797,000 after acquiring an additional 196,161 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

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.