Oppenheimer Cuts Euronet Worldwide (NASDAQ:EEFT) Price Target to $128.00

Euronet Worldwide (NASDAQ:EEFT) had its price objective reduced by equities researchers at Oppenheimer from $135.00 to $128.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target suggests a potential upside of 23.92% from the stock’s current price.

A number of other equities research analysts also recently issued reports on EEFT. StockNews.com downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Monness Crespi & Hardt raised Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Citigroup lowered shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their price target for the company from $118.00 to $110.00 in a research report on Friday, October 18th. DA Davidson reissued a “buy” rating and issued a $136.00 price target on shares of Euronet Worldwide in a report on Tuesday, October 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $120.00 target price on shares of Euronet Worldwide in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.25.

Euronet Worldwide Stock Performance

Shares of EEFT stock traded up $1.31 during trading hours on Thursday, reaching $103.29. 98,872 shares of the company’s stock were exchanged, compared to its average volume of 297,369. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.26. Euronet Worldwide has a 1 year low of $91.07 and a 1 year high of $117.66. The company has a market cap of $4.54 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. The company’s 50 day moving average is $102.04 and its two-hundred day moving average is $102.54.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.04 billion. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. During the same period in the previous year, the firm earned $2.53 EPS. Equities research analysts anticipate that Euronet Worldwide will post 7.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Euronet Worldwide news, SVP Martin L. Bruckner sold 9,397 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $107.31, for a total value of $1,008,392.07. Following the transaction, the senior vice president now owns 39,983 shares in the company, valued at $4,290,575.73. The trade was a 19.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin J. Caponecchi sold 52,034 shares of Euronet Worldwide stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $106.61, for a total value of $5,547,344.74. Following the sale, the chief executive officer now directly owns 90,288 shares in the company, valued at approximately $9,625,603.68. The trade was a 36.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,910 shares of company stock worth $8,780,102 over the last ninety days. 10.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Euronet Worldwide

A number of hedge funds have recently bought and sold shares of EEFT. Oppenheimer & Co. Inc. grew its position in shares of Euronet Worldwide by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 18,074 shares of the business services provider’s stock worth $1,793,000 after buying an additional 133 shares in the last quarter. Arizona State Retirement System grew its position in shares of Euronet Worldwide by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 12,176 shares of the business services provider’s stock worth $1,260,000 after acquiring an additional 135 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Euronet Worldwide by 6.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,350 shares of the business services provider’s stock worth $243,000 after buying an additional 143 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Euronet Worldwide by 0.6% in the third quarter. HighTower Advisors LLC now owns 25,674 shares of the business services provider’s stock valued at $2,540,000 after purchasing an additional 158 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Euronet Worldwide by 3.6% during the third quarter. State of Alaska Department of Revenue now owns 4,903 shares of the business services provider’s stock valued at $486,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds 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.