Euronet Worldwide’s (EEFT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Euronet Worldwide (NASDAQ:EEFT) in a research report released on Thursday morning,Benzinga reports. They currently have a $120.00 price target on the business services provider’s stock.

A number of other analysts also recently weighed in on the company. Oppenheimer upped their target price on Euronet Worldwide from $121.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. StockNews.com raised shares of Euronet Worldwide from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. DA Davidson reaffirmed a “buy” rating and set a $136.00 price target on shares of Euronet Worldwide in a report on Tuesday, October 8th. Monness Crespi & Hardt raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Finally, Citigroup downgraded shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $118.00 to $110.00 in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Euronet Worldwide currently has an average rating of “Moderate Buy” and a consensus price target of $127.13.

Euronet Worldwide Stock Performance

NASDAQ:EEFT opened at $103.46 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. The stock has a 50 day simple moving average of $101.63 and a 200 day simple moving average of $102.73. Euronet Worldwide has a 1-year low of $91.07 and a 1-year high of $117.66. The stock has a market cap of $4.55 billion, a P/E ratio of 14.95, a PEG ratio of 0.95 and a beta of 1.44.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company posted $2.53 earnings per share. Research analysts anticipate that Euronet Worldwide will post 7.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Nikos Fountas sold 21,479 shares of Euronet Worldwide stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $103.56, for a total transaction of $2,224,365.24. Following the sale, the chief executive officer now directly owns 52,370 shares of the company’s stock, valued at approximately $5,423,437.20. This trade represents a 29.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Caponecchi sold 52,034 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $106.61, for a total value of $5,547,344.74. Following the completion of the transaction, the chief executive officer now directly owns 90,288 shares of the company’s stock, valued at $9,625,603.68. This represents a 36.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,910 shares of company stock valued at $8,780,102. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Euronet Worldwide

Large investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new stake in Euronet Worldwide in the second quarter valued at $57,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Euronet Worldwide in the second quarter valued at about $80,000. Mendota Financial Group LLC bought a new position in shares of Euronet Worldwide during the third quarter worth about $100,000. Quarry LP lifted its stake in shares of Euronet Worldwide by 21.6% in the third quarter. Quarry LP now owns 1,087 shares of the business services provider’s stock worth $108,000 after acquiring an additional 193 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in Euronet Worldwide in the third quarter valued at approximately $109,000. Institutional investors own 91.60% of the company’s stock.

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.