Piper Jaffray Companies Reiterates Buy Rating for Euronet Worldwide, Inc. (EEFT)
Euronet Worldwide, Inc. (NASDAQ:EEFT)‘s stock had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies in a report released on Sunday. They currently have a $112.00 price target on the business services provider’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 13.46% from the stock’s current price.
Other equities analysts have also issued reports about the stock. Lake Street Capital reaffirmed a “buy” rating and issued a $99.00 target price (up from $96.00) on shares of Euronet Worldwide in a research note on Thursday, July 27th. DA Davidson initiated coverage on shares of Euronet Worldwide in a research note on Wednesday, July 19th. They issued a “buy” rating and a $105.00 target price for the company. Zacks Investment Research raised shares of Euronet Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Monday, July 17th. Northland Securities reaffirmed a “buy” rating and issued a $110.00 target price on shares of Euronet Worldwide in a research note on Thursday. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $120.00 price objective on shares of Euronet Worldwide in a research note on Friday, October 6th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $108.67.
Shares of Euronet Worldwide (NASDAQ EEFT) opened at 98.71 on Friday. The firm has a market cap of $5.19 billion, a PE ratio of 31.86 and a beta of 1.34. Euronet Worldwide has a 52-week low of $70.51 and a 52-week high of $101.07. The company’s 50-day moving average price is $96.81 and its 200-day moving average price is $90.98.
Euronet Worldwide (NASDAQ:EEFT) last announced its earnings results on Thursday, October 19th. The business services provider reported $1.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.61. The firm had revenue of $637.90 million during the quarter, compared to analyst estimates of $595.09 million. Euronet Worldwide had a net margin of 8.23% and a return on equity of 22.32%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 EPS. Equities analysts expect that Euronet Worldwide will post $4.55 earnings per share for the current fiscal year.
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In other news, VP Jeffrey B. Newman sold 24,535 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $92.01, for a total transaction of $2,257,465.35. Following the completion of the transaction, the vice president now directly owns 16,918 shares in the company, valued at approximately $1,556,625.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kevin J. Caponecchi sold 49,238 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $97.67, for a total transaction of $4,809,075.46. Following the transaction, the chief executive officer now owns 79,096 shares of the company’s stock, valued at $7,725,306.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,141 shares of company stock valued at $29,352,433. Company insiders own 7.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of EEFT. Bristlecone Advisors LLC acquired a new position in shares of Euronet Worldwide during the 3rd quarter worth about $113,000. Fiduciary Trust Co. acquired a new stake in Euronet Worldwide in the 2nd quarter valued at about $122,000. The Manufacturers Life Insurance Company lifted 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 valued at $149,000 after purchasing an additional 116 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $157,000 after purchasing an additional 167 shares during the last quarter. Finally, World Asset Management Inc acquired a new stake in Euronet Worldwide in the 2nd quarter valued at about $201,000. Institutional investors 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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