Euronet Worldwide (NASDAQ:EEFT) Given New $70.00 Price Target at Wolfe Research

Key Points

• Wolfe Research cut Euronet Worldwide’s price target from $75 to $70 and maintained an “underperform” rating, implying roughly 0.64% downside from the stock’s $70.45 price.
• Analyst sentiment remains mixed: Euronet has an overall “Hold” rating and an average price target of $94, with three Buy, three Hold, and one Sell rating.
• Euronet’s latest quarterly EPS of $2.82 missed the $2.93 consensus estimate, although revenue increased 3.2% year over year; institutional investors own 91.6% of the company.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) had its target price reduced by analysts at Wolfe Research from $75.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the business services provider's stock. Wolfe Research's price objective would suggest a potential downside of 0.64% from the stock's current price.

EEFT has been the subject of a number of other research reports. DA Davidson reissued a "buy" rating and set a $102.00 price target on shares of Euronet Worldwide in a report on Friday, July 10th. Needham & Company LLC raised their price objective on Euronet Worldwide from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings cut Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Euronet Worldwide presently has an average rating of "Hold" and an average target price of $94.00.

Euronet Worldwide Price Performance

Euronet Worldwide stock traded up $0.25 during trading hours on Tuesday, reaching $70.45. 100,014 shares of the stock were exchanged, compared to its average volume of 696,915. The company has a market cap of $2.68 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.56 and a beta of 0.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.47. Euronet Worldwide has a twelve month low of $62.50 and a twelve month high of $96.93. The stock has a 50 day moving average of $73.87 and a two-hundred day moving average of $71.40.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.During the same quarter last year, the business posted $2.56 EPS. The company's revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts expect that Euronet Worldwide will post 9.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Euronet Worldwide

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in shares of Euronet Worldwide by 17.0% during the first quarter. Goldman Sachs Group Inc. now owns 628,384 shares of the business services provider's stock worth $67,143,000 after acquiring an additional 91,348 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Euronet Worldwide by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,475 shares of the business services provider's stock worth $12,980,000 after acquiring an additional 5,009 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Euronet Worldwide in the 1st quarter worth about $202,000. Geneos Wealth Management Inc. lifted its stake in shares of Euronet Worldwide by 48.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider's stock valued at $36,000 after purchasing an additional 109 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Euronet Worldwide by 422.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,631 shares of the business services provider's stock valued at $165,000 after purchasing an additional 1,319 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

About Euronet Worldwide

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world's largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.

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