Citigroup Upgrades Euronet Worldwide (NASDAQ:EEFT) to “Buy”

Euronet Worldwide (NASDAQ:EEFT) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage currently has a $120.00 price objective on the business services provider’s stock, up from their previous price objective of $116.00. Citigroup’s price target suggests a potential upside of 16.46% from the stock’s previous close.

Several other equities research analysts also recently issued reports on EEFT. Needham & Company LLC lifted their price target on shares of Euronet Worldwide from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. DA Davidson reissued a “buy” rating and set a $126.00 price target on shares of Euronet Worldwide in a research report on Monday, April 15th. Monness Crespi & Hardt started coverage on shares of Euronet Worldwide in a report on Wednesday, March 20th. They issued a “buy” rating and a $140.00 price target on the stock. Evercore ISI boosted their target price on shares of Euronet Worldwide from $118.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, Stephens upgraded Euronet Worldwide from an “equal weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Thursday, February 1st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Euronet Worldwide presently has a consensus rating of “Buy” and a consensus target price of $120.75.

Euronet Worldwide Trading Up 1.2 %

Shares of EEFT stock opened at $103.04 on Monday. The firm’s 50 day moving average price is $107.87 and its two-hundred day moving average price is $96.69. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.37. Euronet Worldwide has a fifty-two week low of $73.84 and a fifty-two week high of $121.55. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 18.67 and a beta of 1.39.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, February 7th. The business services provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.54 by $0.34. Euronet Worldwide had a return on equity of 25.23% and a net margin of 7.63%. The firm had revenue of $957.70 million for the quarter, compared to analyst estimates of $844.59 million. During the same period in the previous year, the company posted $1.12 EPS. Euronet Worldwide’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Euronet Worldwide will post 7.51 EPS for the current year.

Hedge Funds Weigh In On Euronet Worldwide

Several institutional investors have recently made changes to their positions in EEFT. First Horizon Advisors Inc. boosted its position in Euronet Worldwide by 26.4% during the 4th quarter. First Horizon Advisors Inc. now owns 503 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 105 shares during the period. M&T Bank Corp lifted its stake in Euronet Worldwide by 3.8% in the third quarter. M&T Bank Corp now owns 3,807 shares of the business services provider’s stock valued at $303,000 after buying an additional 141 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Euronet Worldwide by 236.9% during the first quarter. Belpointe Asset Management LLC now owns 219 shares of the business services provider’s stock worth $25,000 after acquiring an additional 154 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Euronet Worldwide by 189.9% in the 4th quarter. Signaturefd LLC now owns 258 shares of the business services provider’s stock worth $26,000 after acquiring an additional 169 shares during the period. Finally, Vident Investment Advisory LLC lifted its position in Euronet Worldwide by 3.6% in the 1st quarter. Vident Investment Advisory LLC now owns 4,828 shares of the business services provider’s stock valued at $628,000 after purchasing an additional 169 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

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 and prepaid card outsourcing, card issuing, and merchant acquiring services.