Edenred (OTCMKTS:EDNMY) Trading 25% Higher - Still a Buy?

Key Points

• Edenred's stock price surged 25% to $15.00, despite a significant drop in trading volume by 97% compared to its average.
• Recent analysts' ratings reflect caution, with Zacks and Sanford C. Bernstein downgrading the stock from a "strong-buy" to a "hold," while Morgan Stanley maintained an "overweight" rating.
• The company's employee benefit solutions include various programs such as Ticket Restaurant and Ticket Alimentación, designed to enhance employee welfare and support local merchants.

Edenred (OTCMKTS:EDNMY - Get Free Report)'s stock price rose 25% on Wednesday . The stock traded as high as $15.00 and last traded at $15.00. Approximately 408 shares changed hands during trading, a decline of 97% from the average daily volume of 12,616 shares. The stock had previously closed at $12.00.

Wall Street Analyst Weigh In

EDNMY has been the subject of several recent research reports. Zacks Research cut Edenred from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Sanford C. Bernstein lowered Edenred from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Edenred in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold".

Edenred Stock Up 2.7%

The firm has a fifty day moving average price of $13.17 and a 200 day moving average price of $14.72.

Edenred Company Profile

Edenred SE provides digital platform for services and payments for companies, employees, and merchants worldwide. It offers employee benefit solutions, including Ticket Restaurant, a solution that allows employees to take time out for lunch at a partner merchant; Ticket Alimentación that allows users to pay for groceries in neighborhood stores and supermarkets; Ticket Regalo, a gift voucher; Ticket CESU, a human services solution; Ticket Plus Card, a solution that enables the purchase of staples, such as food and fuel; Ticket Welfare, which employees can use to pay for a range of services, such as access to sports facilities and solutions for their children's educational needs; Ticket Guardería for companies without on-site daycare facilities; Childcare Vouchers; Ticket EcoCheque, a solutions that encourages purchase of environmentally friendly products; Ticket Kadeos Culture and Ticket Cultura that are solutions for cultural goods and services.

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