Needham & Company LLC Lowers Euronet Worldwide (NASDAQ:EEFT) Price Target to $120.00

Euronet Worldwide (NASDAQ:EEFT) had its price target lowered by analysts at Needham & Company LLC from $125.00 to $120.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 19.40% from the stock’s previous close.

Several other equities analysts also recently commented on the company. StockNews.com downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Monness Crespi & Hardt increased their price target on Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. DA Davidson restated a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Citigroup lowered 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. Finally, Oppenheimer began coverage on shares of Euronet Worldwide in a research note on Tuesday, October 1st. They set an “outperform” rating and a $121.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Euronet Worldwide Trading Down 1.7 %

Shares of Euronet Worldwide stock opened at $100.50 on Thursday. The firm has a market cap of $4.61 billion, a PE ratio of 17.69 and a beta of 1.46. Euronet Worldwide has a 1 year low of $75.41 and a 1 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. The stock has a fifty day moving average price of $100.42 and a 200-day moving average price of $104.26.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.04 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. During the same quarter last year, the company posted $2.53 earnings per share. Equities research analysts anticipate that Euronet Worldwide will post 7.88 EPS for the current year.

Insider Activity

In related news, CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the completion of the sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at approximately $1,276,095.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas A. Mcdonnell purchased 3,206 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $93.86 per share, with a total value of $300,915.16. Following the acquisition, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $8,447,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the sale, the chief executive officer now directly owns 12,440 shares of the company’s stock, valued at $1,276,095.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Euronet Worldwide

A number of large investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its position in shares of Euronet Worldwide by 4.5% during the 1st quarter. Clearbridge Investments LLC now owns 567,058 shares of the business services provider’s stock valued at $62,337,000 after purchasing an additional 24,566 shares during the last quarter. LSV Asset Management bought a new position in Euronet Worldwide during the first quarter valued at approximately $1,638,000. Ellsworth Advisors LLC purchased a new position in shares of Euronet Worldwide during the second quarter worth approximately $514,000. SG Capital Management LLC lifted its holdings in shares of Euronet Worldwide by 106.8% in the 1st quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock worth $4,610,000 after acquiring an additional 21,654 shares during the last quarter. Finally, New South Capital Management Inc. grew its holdings in shares of Euronet Worldwide by 21.8% during the 1st quarter. New South Capital Management Inc. now owns 538,419 shares of the business services provider’s stock valued at $59,188,000 after purchasing an additional 96,278 shares during the last quarter. Hedge funds and other 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.