Brokerages Set Nuvei Co. (NASDAQ:NVEI) PT at $32.06

Shares of Nuvei Co. (NASDAQ:NVEI) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $32.06.

A number of equities analysts have commented on NVEI shares. Wolfe Research reiterated a “peer perform” rating on shares of Nuvei in a report on Tuesday, April 2nd. William Blair downgraded shares of Nuvei from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. UBS Group reiterated a “neutral” rating and issued a $34.00 target price (up from $30.00) on shares of Nuvei in a report on Wednesday, April 3rd. Scotiabank restated a “sector perform” rating and set a $34.00 price objective on shares of Nuvei in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Nuvei from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $32.00 to $34.00 in a report on Wednesday, May 8th.

Institutional Investors Weigh In On Nuvei

Several hedge funds have recently bought and sold shares of NVEI. Covestor Ltd purchased a new stake in Nuvei in the 1st quarter worth approximately $58,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Nuvei by 35.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock valued at $191,000 after buying an additional 2,095 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Nuvei during the 1st quarter valued at approximately $207,000. Virtu Financial LLC purchased a new position in shares of Nuvei during the 4th quarter valued at approximately $248,000. Finally, CastleKnight Management LP purchased a new position in shares of Nuvei during the 4th quarter valued at approximately $305,000. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Nuvei Stock Up 0.0 %

NASDAQ NVEI opened at $32.91 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average of $32.34 and a two-hundred day moving average of $29.51. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of -822.75, a PEG ratio of 1.61 and a beta of 2.53. Nuvei has a 52 week low of $13.32 and a 52 week high of $34.67.

Nuvei (NASDAQ:NVEI) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). The firm had revenue of $335.11 million for the quarter, compared to analysts’ expectations of $326.11 million. Nuvei had a positive return on equity of 6.50% and a negative net margin of 0.39%. On average, analysts predict that Nuvei will post 1.22 earnings per share for the current year.

Nuvei Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were given a $0.10 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.22%. Nuvei’s dividend payout ratio is presently -1,000.00%.

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.