Euronet Worldwide (NASDAQ:EEFT) Shares Gap Up to $102.68

Euronet Worldwide, Inc. (NASDAQ:EEFT)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $102.68, but opened at $114.00. Euronet Worldwide shares last traded at $107.35, with a volume of 64,842 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EEFT. Monness Crespi & Hardt began coverage on Euronet Worldwide in a report on Wednesday, March 20th. They issued a “buy” rating and a $140.00 price objective on the stock. Stephens upgraded Euronet Worldwide from an “equal weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a report on Thursday, February 1st. DA Davidson reaffirmed a “buy” rating and set a $126.00 target price on shares of Euronet Worldwide in a research report on Monday, April 15th. William Blair reaffirmed an “outperform” rating on shares of Euronet Worldwide in a research report on Wednesday. Finally, Evercore ISI upped their target price on Euronet Worldwide from $118.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $120.75.

Euronet Worldwide Stock Up 1.1 %

The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $4.76 billion, a P/E ratio of 19.04 and a beta of 1.39. The firm has a 50-day moving average price of $107.33 and a two-hundred day moving average price of $98.09.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Wednesday, February 7th. The business services provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.54 by $0.34. The firm 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%. Euronet Worldwide’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $1.12 earnings per share. Equities research analysts anticipate that Euronet Worldwide, Inc. will post 7.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Euronet Worldwide by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,710,006 shares of the business services provider’s stock worth $294,500,000 after purchasing an additional 548,457 shares during the period. Van Berkom & Associates Inc. raised its stake in Euronet Worldwide by 48.6% during the third quarter. Van Berkom & Associates Inc. now owns 1,069,693 shares of the business services provider’s stock worth $84,912,000 after acquiring an additional 349,720 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in Euronet Worldwide by 67.8% during the fourth quarter. Burgundy Asset Management Ltd. now owns 746,579 shares of the business services provider’s stock worth $75,770,000 after acquiring an additional 301,771 shares in the last quarter. Wasatch Advisors LP raised its stake in Euronet Worldwide by 0.6% during the first quarter. Wasatch Advisors LP now owns 582,680 shares of the business services provider’s stock worth $64,054,000 after acquiring an additional 3,346 shares in the last quarter. Finally, Voss Capital LLC raised its stake in Euronet Worldwide by 52.8% during the fourth quarter. Voss Capital LLC now owns 565,256 shares of the business services provider’s stock worth $57,368,000 after acquiring an additional 195,404 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

About Euronet Worldwide

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.