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

Euronet Worldwide (NASDAQ:EEFT) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat reports. The brokerage currently has a $120.00 target price on the business services provider’s stock, up from their previous target price of $116.00. Citigroup’s target price would indicate a potential upside of 13.41% from the company’s current price.

Other research analysts have also recently issued reports about the company. Needham & Company LLC upped their price objective on Euronet Worldwide from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Monness Crespi & Hardt assumed coverage on Euronet Worldwide in a research report on Wednesday, March 20th. They issued a “buy” rating and a $140.00 target price for the company. StockNews.com raised Euronet Worldwide from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Stephens raised Euronet Worldwide from an “equal weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research report on Thursday, February 1st. Finally, Evercore ISI upped their target price on Euronet Worldwide from $118.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Euronet Worldwide currently has an average rating of “Buy” and a consensus price target of $120.75.

Euronet Worldwide Trading Up 1.8 %

NASDAQ:EEFT opened at $105.81 on Monday. The stock has a 50-day simple moving average of $107.80 and a 200-day simple moving average of $96.88. The stock has a market cap of $4.85 billion, a P/E ratio of 19.17 and a beta of 1.39. Euronet Worldwide has a 1 year low of $73.84 and a 1 year high of $121.55. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.54 and a current ratio of 1.54.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.34. The business had revenue of $957.70 million during the quarter, compared to analysts’ expectations of $844.59 million. Euronet Worldwide had a return on equity of 25.23% and a net margin of 7.63%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. As a group, analysts anticipate that Euronet Worldwide will post 7.51 earnings per share for the current fiscal year.

Institutional Trading of Euronet Worldwide

A number of hedge funds have recently added to or reduced their stakes in EEFT. Signaturefd LLC lifted its position in Euronet Worldwide by 189.9% during 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. VisionPoint Advisory Group LLC raised its stake in shares of Euronet Worldwide by 101.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 339 shares of the business services provider’s stock worth $27,000 after buying an additional 171 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Euronet Worldwide during the 4th quarter worth approximately $30,000. Quadrant Capital Group LLC raised its stake in shares of Euronet Worldwide by 242.7% during the 4th quarter. Quadrant Capital Group LLC now owns 353 shares of the business services provider’s stock worth $36,000 after buying an additional 250 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Euronet Worldwide by 92.2% during the 3rd quarter. CWM LLC now owns 644 shares of the business services provider’s stock worth $51,000 after buying an additional 309 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.