Nuvei Co. (NASDAQ:NVEI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Nuvei Co. (NASDAQ:NVEIGet Free Report) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.24.

Several research firms have recently weighed in on NVEI. Raymond James lifted their price target on shares of Nuvei from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Wells Fargo & Company dropped their price target on shares of Nuvei from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. BMO Capital Markets dropped their price objective on Nuvei from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Nuvei in a research note on Thursday, March 7th. Finally, Royal Bank of Canada upped their price target on Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, March 7th.

Read Our Latest Stock Report on Nuvei

Nuvei Stock Performance

Shares of NVEI opened at $28.79 on Thursday. Nuvei has a 52 week low of $13.32 and a 52 week high of $43.81. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of -479.75, a PEG ratio of 1.76 and a beta of 2.64. The business has a 50-day simple moving average of $25.03 and a two-hundred day simple moving average of $21.40. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61.

Nuvei Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, March 18th. Nuvei’s dividend payout ratio (DPR) is presently -666.56%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Nuvei by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company’s stock valued at $59,943,000 after buying an additional 54,472 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Nuvei by 18.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 607,159 shares of the company’s stock valued at $15,944,000 after buying an additional 95,879 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Nuvei during the 4th quarter worth $248,000. Sylebra Capital LLC boosted its holdings in Nuvei by 281.8% in the 4th quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock valued at $54,106,000 after purchasing an additional 1,520,721 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of Nuvei by 488.9% during the fourth quarter. Nuveen Asset Management LLC now owns 628,549 shares of the company’s stock worth $16,578,000 after purchasing an additional 521,824 shares in the last quarter. 42.45% of the stock is currently owned by institutional investors and hedge funds.

About Nuvei

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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. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.

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Analyst Recommendations for Nuvei (NASDAQ:NVEI)

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