Euronet Worldwide (NASDAQ:EEFT) Earns “Buy” Rating from Needham & Company LLC

Euronet Worldwide (NASDAQ:EEFT)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $120.00 target price on the business services provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 15.99% from the stock’s previous close.

A number of other equities analysts also recently issued reports on EEFT. DA Davidson restated a “buy” rating and set a $136.00 price objective on shares of Euronet Worldwide in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Euronet Worldwide from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Monness Crespi & Hardt raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Citigroup downgraded shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $118.00 to $110.00 in a research note on Friday, October 18th. Finally, Oppenheimer upped their price target on shares of Euronet Worldwide from $121.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Euronet Worldwide has a consensus rating of “Moderate Buy” and a consensus price target of $127.13.

Euronet Worldwide Stock Up 0.1 %

NASDAQ:EEFT opened at $103.46 on Thursday. Euronet Worldwide has a one year low of $91.07 and a one year high of $117.66. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $4.55 billion, a PE ratio of 14.95, a P/E/G ratio of 0.95 and a beta of 1.44. The firm’s 50 day simple moving average is $101.63 and its 200 day simple moving average is $102.80.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data 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. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. During the same quarter in the previous year, the firm posted $2.53 earnings per share. On average, research analysts anticipate that Euronet Worldwide will post 7.87 earnings per share for the current year.

Insider Activity at Euronet Worldwide

In other Euronet Worldwide news, CEO Kevin J. Caponecchi sold 52,034 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $106.61, for a total value of $5,547,344.74. Following the transaction, the chief executive officer now directly owns 90,288 shares of the company’s stock, valued at approximately $9,625,603.68. This trade represents a 36.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Martin L. Bruckner sold 9,397 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $107.31, for a total transaction of $1,008,392.07. Following the sale, the senior vice president now directly owns 39,983 shares of the company’s stock, valued at approximately $4,290,575.73. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,910 shares of company stock valued at $8,780,102 in the last three months. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Euronet Worldwide

A number of hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its holdings in shares of Euronet Worldwide by 45.8% in the third quarter. Wasatch Advisors LP now owns 716,539 shares of the business services provider’s stock valued at $71,102,000 after purchasing an additional 224,982 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Euronet Worldwide during the 3rd quarter valued at $15,258,000. Hotchkis & Wiley Capital Management LLC lifted its stake in Euronet Worldwide by 13.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,064,233 shares of the business services provider’s stock valued at $105,604,000 after acquiring an additional 127,240 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Euronet Worldwide by 17.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 755,190 shares of the business services provider’s stock worth $78,172,000 after acquiring an additional 113,685 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Euronet Worldwide in the second quarter valued at about $9,047,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Euronet Worldwide Company Profile

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.