Other research analysts have also recently issued reports about the company. Truist Financial increased their price target on Euronet Worldwide from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. DA Davidson cut their price target on Euronet Worldwide from $134.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Euronet Worldwide in a report on Monday, October 23rd. Northland Securities dropped their price objective on shares of Euronet Worldwide from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, September 29th. Finally, Citigroup reduced their target price on shares of Euronet Worldwide from $119.00 to $93.00 and set a “neutral” rating on the stock in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.00.
Euronet Worldwide Price Performance
Euronet Worldwide (NASDAQ:EEFT – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The business services provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.20. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $943.59 million. Euronet Worldwide had a net margin of 7.79% and a return on equity of 24.01%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 EPS. Sell-side analysts forecast that Euronet Worldwide will post 6.55 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Euronet Worldwide by 17.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,710,006 shares of the business services provider’s stock worth $294,500,000 after purchasing an additional 548,457 shares during the period. Wasatch Advisors Inc. lifted its position in shares of Euronet Worldwide by 18.5% in the 1st quarter. Wasatch Advisors Inc. now owns 2,764,637 shares of the business services provider’s stock worth $359,818,000 after purchasing an additional 431,262 shares during the period. William Blair Investment Management LLC lifted its position in shares of Euronet Worldwide by 1.5% in the 1st quarter. William Blair Investment Management LLC now owns 2,567,417 shares of the business services provider’s stock worth $287,294,000 after purchasing an additional 37,611 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in shares of Euronet Worldwide by 23.6% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 1,381,675 shares of the business services provider’s stock worth $154,609,000 after purchasing an additional 263,397 shares during the period. Finally, Capital Research Global Investors lifted its position in shares of Euronet Worldwide by 10.2% in the 1st quarter. Capital Research Global Investors now owns 1,122,002 shares of the business services provider’s stock worth $146,029,000 after purchasing an additional 103,786 shares during the period. Institutional investors and hedge funds own 94.63% of the company’s stock.
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 card outsourcing, card issuing, and merchant acquiring services.
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