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

Nuvei Co. (NASDAQ:NVEI) has been assigned an average recommendation of “Moderate Buy” from the eighteen research firms that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $31.94.

Several research firms recently commented on NVEI. Scotiabank reiterated a “sector perform” rating and issued a $34.00 price objective on shares of Nuvei in a report on Tuesday, April 2nd. Wells Fargo & Company reduced their price objective on Nuvei from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group raised their target price on Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 target price (up from $31.00) on shares of Nuvei in a research report on Tuesday, April 2nd. Finally, National Bankshares raised their target price on Nuvei from $23.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th.

Institutional Trading of Nuvei

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Nuvei by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock valued at $114,248,000 after purchasing an additional 865,984 shares during the last quarter. Capital International Investors increased its position in shares of Nuvei by 102.5% during the 1st quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock valued at $546,607,000 after purchasing an additional 3,679,400 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Nuvei by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company’s stock valued at $59,943,000 after purchasing an additional 54,472 shares during the last quarter. Sylebra Capital LLC boosted its holdings in Nuvei by 281.8% during the 4th quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock valued at $54,106,000 after acquiring an additional 1,520,721 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Nuvei by 21.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,194,800 shares of the company’s stock valued at $17,922,000 after acquiring an additional 214,800 shares during the period. Institutional investors own 42.45% of the company’s stock.

Nuvei Price Performance

Shares of NASDAQ:NVEI opened at $32.25 on Monday. Nuvei has a 1-year low of $13.32 and a 1-year high of $43.81. The business has a fifty day moving average price of $27.29 and a 200-day moving average price of $22.94. The company has a market capitalization of $4.50 billion, a PE ratio of -537.41, a PEG ratio of 1.52 and a beta of 2.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.05 and a quick ratio of 1.05.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. The company had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. As a group, equities analysts expect that Nuvei will post 1.27 EPS for the current fiscal year.

Nuvei Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. Nuvei’s dividend payout ratio is presently -666.56%.

About Nuvei

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. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.