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

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

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

Euronet Worldwide Trading Down 0.6 %

EEFT opened at $102.74 on Thursday. The company’s 50 day moving average is $101.51 and its 200-day moving average is $102.88. The company has a market cap of $4.51 billion, a P/E ratio of 14.94, a PEG ratio of 0.95 and a beta of 1.44. Euronet Worldwide has a 1-year low of $90.92 and a 1-year high of $117.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business earned $2.53 earnings per share. Equities research analysts predict that Euronet Worldwide will post 7.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Nikos Fountas sold 21,479 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 52,370 shares of the company’s stock, valued at approximately $5,423,437.20. This represents a 29.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Martin L. Bruckner sold 9,397 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $107.31, for a total value of $1,008,392.07. Following the completion of the transaction, the senior vice president now owns 39,983 shares in the company, valued at approximately $4,290,575.73. The trade was a 19.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,910 shares of company stock worth $8,780,102. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of Euronet Worldwide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EEFT. Ellsworth Advisors LLC purchased a new position in shares of Euronet Worldwide during the second quarter valued at approximately $514,000. Burgundy Asset Management Ltd. boosted its holdings in Euronet Worldwide by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 767,293 shares of the business services provider’s stock worth $79,415,000 after acquiring an additional 10,689 shares during the last quarter. Savant Capital LLC grew its stake in shares of Euronet Worldwide by 199.3% in the 2nd quarter. Savant Capital LLC now owns 8,928 shares of the business services provider’s stock worth $924,000 after acquiring an additional 5,945 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of Euronet Worldwide by 5.4% in the third quarter. Thompson Siegel & Walmsley LLC now owns 161,283 shares of the business services provider’s stock valued at $16,004,000 after purchasing an additional 8,230 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in shares of Euronet Worldwide by 507.8% during the second quarter. Maverick Capital Ltd. now owns 14,916 shares of the business services provider’s stock valued at $1,544,000 after purchasing an additional 12,462 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

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.