Needham & Company LLC Reiterates “Buy” Rating for Euronet Worldwide (NASDAQ:EEFT)

Needham & Company LLC restated their buy rating on shares of Euronet Worldwide (NASDAQ:EEFT) in a report issued on Wednesday, Benzinga reports. Needham & Company LLC currently has a $125.00 price target on the business services provider’s stock.

Other analysts have also issued reports about the stock. Citigroup upped their price objective on shares of Euronet Worldwide from $120.00 to $135.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Wolfe Research raised shares of Euronet Worldwide from an underperform rating to a peer perform rating in a research report on Friday, May 17th. StockNews.com downgraded shares of Euronet Worldwide from a buy rating to a hold rating in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt increased their target price on Euronet Worldwide from $140.00 to $145.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Euronet Worldwide has a consensus rating of Moderate Buy and an average price target of $124.11.

Euronet Worldwide Price Performance

Shares of EEFT stock opened at $104.76 on Wednesday. The company has a market capitalization of $4.70 billion, a P/E ratio of 18.44 and a beta of 1.45. The company’s 50-day simple moving average is $102.15 and its two-hundred day simple moving average is $106.83. Euronet Worldwide has a one year low of $73.84 and a one year high of $117.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.21. The company had revenue of $986.20 million for the quarter, compared to analysts’ expectations of $1.09 billion. Euronet Worldwide had a return on equity of 27.81% and a net margin of 7.46%. Euronet Worldwide’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. As a group, equities analysts anticipate that Euronet Worldwide will post 7.88 EPS for the current year.

Insider Transactions at Euronet Worldwide

In other Euronet Worldwide news, Director Thomas A. Mcdonnell bought 3,206 shares of Euronet Worldwide stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $93.86 per share, with a total value of $300,915.16. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $8,447,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

Institutional Trading of Euronet Worldwide

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in shares of Euronet Worldwide by 242.7% in the fourth quarter. Quadrant Capital Group LLC now owns 353 shares of the business services provider’s stock worth $36,000 after buying an additional 250 shares during the last quarter. Headlands Technologies LLC purchased a new position in Euronet Worldwide in the 1st quarter worth $50,000. First Horizon Advisors Inc. lifted its position in Euronet Worldwide by 26.4% during the 4th quarter. First Horizon Advisors Inc. now owns 503 shares of the business services provider’s stock worth $51,000 after acquiring an additional 105 shares during the period. Summit Securities Group LLC purchased a new stake in Euronet Worldwide during the 2nd quarter valued at about $57,000. Finally, Covestor Ltd increased its holdings in shares of Euronet Worldwide by 174.9% in the first quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 348 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.