Nuvei (NASDAQ:NVEI) Rating Lowered to Neutral at JPMorgan Chase & Co.

Nuvei (NASDAQ:NVEI) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat reports. They presently have a $34.00 target price on the stock, up from their previous target price of $32.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 5.39% from the company’s previous close.

NVEI has been the subject of a number of other reports. Wells Fargo & Company lowered their price target on Nuvei from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. The Goldman Sachs Group lifted their target price on shares of Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Royal Bank of Canada increased their price target on Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $34.00 price objective (up previously from $31.00) on shares of Nuvei in a research note on Tuesday, April 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $34.00 target price on shares of Nuvei in a research report on Tuesday, April 2nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Nuvei has a consensus rating of “Moderate Buy” and a consensus price target of $32.06.

Nuvei Stock Down 0.7 %

Nuvei stock opened at $32.26 on Wednesday. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -537.58, a price-to-earnings-growth ratio of 1.52 and a beta of 2.59. The firm’s fifty day moving average price is $29.87 and its two-hundred day moving average price is $25.06. Nuvei has a 1-year low of $13.32 and a 1-year high of $38.68. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $321.52 million for the quarter, compared to analysts’ expectations of $319.60 million. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. On average, equities research analysts predict that Nuvei will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvei

Large investors have recently modified their holdings of the company. Psagot Value Holdings Ltd. Israel purchased a new stake in Nuvei in the 3rd quarter worth approximately $90,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Nuvei by 35.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock worth $191,000 after buying an additional 2,095 shares in the last quarter. Quantbot Technologies LP bought a new position in Nuvei during the first quarter valued at approximately $207,000. Virtu Financial LLC purchased a new position in shares of Nuvei during the fourth quarter worth approximately $248,000. Finally, CastleKnight Management LP bought a new stake in shares of Nuvei in the 4th quarter worth approximately $305,000. 42.45% of the stock is currently owned by institutional investors.

Nuvei Company Profile

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.