Euronet Worldwide (NASDAQ:EEFT) Price Target Cut to $120.00

Euronet Worldwide (NASDAQ:EEFT) had its target price lowered by analysts at Needham & Company LLC from $125.00 to $120.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 19.40% from the company’s current price.

EEFT has been the subject of several other research reports. Monness Crespi & Hardt increased their price target on Euronet Worldwide from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Citigroup lowered shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $118.00 to $110.00 in a research note on Friday, October 18th. Oppenheimer initiated coverage on shares of Euronet Worldwide in a research report on Tuesday, October 1st. They set an “outperform” rating and a $121.00 price objective for the company. Finally, DA Davidson restated a “buy” rating and issued a $136.00 target price on shares of Euronet Worldwide in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.38.

Euronet Worldwide Stock Down 1.7 %

Shares of NASDAQ EEFT opened at $100.50 on Thursday. The company has a 50 day simple moving average of $100.42 and a 200 day simple moving average of $104.26. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19. Euronet Worldwide has a 1 year low of $75.41 and a 1 year high of $117.66. The firm has a market cap of $4.61 billion, a PE ratio of 17.69 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $2.53 earnings per share. On average, research analysts forecast that Euronet Worldwide will post 7.88 EPS for the current year.

Insider Activity

In other news, Director Thomas A. Mcdonnell purchased 3,206 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $93.86 per share, with a total value of $300,915.16. Following the purchase, the director now owns 90,000 shares in the company, valued at $8,447,400. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Euronet Worldwide news, Director Thomas A. Mcdonnell purchased 3,206 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the purchase, the director now owns 90,000 shares of the company’s stock, valued at $8,447,400. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Juan Bianchi sold 4,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the transaction, the chief executive officer now owns 12,440 shares in the company, valued at approximately $1,276,095.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Euronet Worldwide

Hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC lifted its holdings in shares of Euronet Worldwide by 4.5% in the first quarter. Clearbridge Investments LLC now owns 567,058 shares of the business services provider’s stock valued at $62,337,000 after purchasing an additional 24,566 shares in the last quarter. LSV Asset Management purchased a new stake in Euronet Worldwide in the 1st quarter valued at $1,638,000. Ellsworth Advisors LLC bought a new position in Euronet Worldwide during the 2nd quarter valued at $514,000. SG Capital Management LLC boosted its holdings in Euronet Worldwide by 106.8% during the 1st quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock worth $4,610,000 after acquiring an additional 21,654 shares during the last quarter. Finally, New South Capital Management Inc. grew its stake in shares of Euronet Worldwide by 21.8% in the 1st quarter. New South Capital Management Inc. now owns 538,419 shares of the business services provider’s stock worth $59,188,000 after acquiring an additional 96,278 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Euronet Worldwide Company Profile

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.