Nuvei (NASDAQ:NVEI) Price Target Raised to $34.00 at Citigroup

Nuvei (NASDAQ:NVEIGet Free Report) had its target price upped by stock analysts at Citigroup from $27.00 to $34.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 5.36% from the company’s previous close.

A number of other analysts have also issued reports on NVEI. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $34.00 price target (up previously from $31.00) on shares of Nuvei in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Nuvei from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Nuvei in a research report on Tuesday. Wells Fargo & Company decreased their price target on Nuvei from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group upped their price objective on Nuvei from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.29.

Check Out Our Latest Stock Report on NVEI

Nuvei Stock Up 0.0 %

Nuvei stock traded up $0.01 during midday trading on Wednesday, hitting $32.27. 4,062,282 shares of the stock were exchanged, compared to its average volume of 994,268. 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 company has a 50 day moving average price of $26.07 and a two-hundred day moving average price of $21.99. The firm has a market cap of $4.50 billion, a P/E ratio of -537.58, a P/E/G ratio of 1.95 and a beta of 2.68. Nuvei has a 1 year low of $13.32 and a 1 year high of $43.81.

Nuvei (NASDAQ:NVEIGet Free Report) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, topping the consensus estimate 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 predict that Nuvei will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvei

A number of hedge funds have recently made changes to their positions in NVEI. Wellington Management Group LLP grew its holdings in Nuvei by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock worth $114,248,000 after buying an additional 865,984 shares in the last quarter. Capital International Investors increased its holdings in shares of Nuvei by 102.5% during the first quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock valued at $546,607,000 after purchasing an additional 3,679,400 shares during the period. Vanguard Group Inc. raised its stake in shares of Nuvei by 2.4% during the fourth 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. Sylebra Capital LLC lifted its holdings in Nuvei by 281.8% in the fourth quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock worth $54,106,000 after purchasing an additional 1,520,721 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in Nuvei by 21.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,194,800 shares of the company’s stock valued at $17,922,000 after buying an additional 214,800 shares in the last quarter. Institutional investors own 42.45% of the company’s stock.

About Nuvei

(Get Free Report)

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.

See Also

Analyst Recommendations for Nuvei (NASDAQ:NVEI)

Receive News & Ratings for Nuvei Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvei and related companies with MarketBeat.com's FREE daily email newsletter.