Piper Jaffray Companies reaffirmed their buy rating on shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) in a research report report published on Sunday morning. Piper Jaffray Companies currently has a $112.00 price target on the business services provider’s stock.
EEFT has been the subject of several other research reports. Lake Street Capital reiterated a buy rating and set a $99.00 price target (up previously from $96.00) on shares of Euronet Worldwide in a research note on Thursday, July 27th. Northland Securities reiterated a buy rating and set a $110.00 price target on shares of Euronet Worldwide in a research note on Thursday, October 19th. DA Davidson began coverage on Euronet Worldwide in a research note on Wednesday, July 19th. They set a buy rating and a $105.00 price target for the company. BidaskClub upgraded Euronet Worldwide from a hold rating to a buy rating in a research note on Monday, July 31st. Finally, Zacks Investment Research downgraded Euronet Worldwide from a buy rating to a hold rating in a research note on Friday, July 28th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $108.67.
Shares of Euronet Worldwide (NASDAQ EEFT) opened at 98.55 on Friday. Euronet Worldwide has a 12-month low of $70.51 and a 12-month high of $101.07. The stock’s 50 day moving average price is $96.92 and its 200-day moving average price is $91.28. The firm has a market cap of $5.18 billion, a P/E ratio of 31.81 and a beta of 1.34.
Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Thursday, October 19th. The business services provider reported $1.61 earnings per share for the quarter, hitting the consensus estimate of $1.61. The company had revenue of $637.90 million during the quarter, compared to the consensus estimate of $595.09 million. Euronet Worldwide had a return on equity of 23.76% and a net margin of 9.63%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 EPS. On average, analysts predict that Euronet Worldwide will post $4.56 earnings per share for the current fiscal year.
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In other Euronet Worldwide news, CEO Michael J. Brown sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $96.49, for a total value of $5,789,400.00. Following the completion of the transaction, the chief executive officer now owns 1,605,886 shares in the company, valued at approximately $154,951,940.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nikos Fountas sold 20,789 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $96.72, for a total value of $2,010,712.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 344,544 shares of company stock valued at $33,692,580. 7.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bristlecone Advisors LLC bought a new position in Euronet Worldwide in the 3rd quarter worth about $113,000. Fiduciary Trust Co. bought a new position in Euronet Worldwide in the 2nd quarter worth about $122,000. The Manufacturers Life Insurance Company boosted its stake in Euronet Worldwide by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock worth $149,000 after purchasing an additional 116 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Euronet Worldwide by 10.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,796 shares of the business services provider’s stock worth $157,000 after purchasing an additional 167 shares during the period. Finally, World Asset Management Inc bought a new position in Euronet Worldwide in the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 93.89% of the company’s stock.
About Euronet Worldwide
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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