DA Davidson Issues Pessimistic Forecast for Euronet Worldwide (NASDAQ:EEFT) Stock Price

Euronet Worldwide (NASDAQ:EEFT) had its price objective cut by analysts at DA Davidson from $124.00 to $112.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. DA Davidson’s price objective indicates a potential upside of 55.90% from the company’s current price.

Several other research analysts have also recently issued reports on EEFT. Keefe, Bruyette & Woods reduced their price objective on Euronet Worldwide from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Friday, October 24th. Monness Crespi & Hardt cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating in a research note on Monday, January 5th. Oppenheimer dropped their price objective on shares of Euronet Worldwide from $134.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Weiss Ratings cut shares of Euronet Worldwide from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 26th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $80.00 price target on shares of Euronet Worldwide in a report on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $108.33.

Euronet Worldwide Stock Performance

Shares of EEFT stock opened at $71.84 on Wednesday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 0.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.15 and a quick ratio of 1.15. The business has a fifty day moving average of $74.80 and a 200 day moving average of $82.86. Euronet Worldwide has a 1 year low of $67.00 and a 1 year high of $114.25.

Institutional Investors Weigh In On Euronet Worldwide

Several hedge funds have recently modified their holdings of the company. LRI Investments LLC raised its position in shares of Euronet Worldwide by 26.7% during the 2nd quarter. LRI Investments LLC now owns 1,540 shares of the business services provider’s stock worth $156,000 after purchasing an additional 325 shares during the last quarter. Meritage Portfolio Management increased its stake in Euronet Worldwide by 18.8% during the 3rd quarter. Meritage Portfolio Management now owns 124,343 shares of the business services provider’s stock worth $10,919,000 after buying an additional 19,713 shares in the last quarter. Prudential Financial Inc. increased its stake in Euronet Worldwide by 80.3% during the 2nd quarter. Prudential Financial Inc. now owns 98,147 shares of the business services provider’s stock worth $9,950,000 after buying an additional 43,710 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Euronet Worldwide by 20.4% during the second quarter. American Century Companies Inc. now owns 1,342,733 shares of the business services provider’s stock valued at $136,126,000 after acquiring an additional 227,597 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its position in shares of Euronet Worldwide by 20.3% in the third quarter. Reinhart Partners LLC. now owns 1,079,798 shares of the business services provider’s stock valued at $94,818,000 after acquiring an additional 181,888 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

About Euronet Worldwide

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.