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

Euronet Worldwide (NASDAQ:EEFT - Free Report) had its target price decreased by Needham & Company LLC from $130.00 to $120.00 in a research report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the business services provider's stock.

A number of other equities research analysts also recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of Euronet Worldwide in a report on Thursday, April 24th. Keefe, Bruyette & Woods lifted their target price on Euronet Worldwide from $108.00 to $112.00 and gave the company a "market perform" rating in a research report on Friday, February 14th. Stephens reissued an "overweight" rating and issued a $130.00 target price on shares of Euronet Worldwide in a report on Friday, February 14th. Finally, StockNews.com downgraded shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, February 22nd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $125.57.

Euronet Worldwide Price Performance

Shares of EEFT traded down $2.18 during trading hours on Friday, hitting $98.75. 172,406 shares of the company were exchanged, compared to its average volume of 351,014. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 0.92. Euronet Worldwide has a fifty-two week low of $85.24 and a fifty-two week high of $117.66. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 0.78 and a beta of 1.18. The firm's fifty day moving average is $100.10 and its 200 day moving average is $101.07.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.13. The firm had revenue of $915.50 million for the quarter, compared to the consensus estimate of $908.93 million. Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. On average, equities analysts anticipate that Euronet Worldwide will post 9.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $100.69, for a total transaction of $9,565,550.00. Following the sale, the chief executive officer now directly owns 1,418,966 shares of the company's stock, valued at $142,875,686.54. The trade was a 6.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.20% of the company's stock.

Institutional Investors Weigh In On Euronet Worldwide

A number of institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in Euronet Worldwide by 794.9% in the first quarter. Nisa Investment Advisors LLC now owns 11,097 shares of the business services provider's stock worth $1,186,000 after purchasing an additional 9,857 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Euronet Worldwide by 1.8% in the first quarter. Penserra Capital Management LLC now owns 67,678 shares of the business services provider's stock worth $7,231,000 after purchasing an additional 1,184 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in Euronet Worldwide by 9.3% in the first quarter. OneDigital Investment Advisors LLC now owns 5,713 shares of the business services provider's stock worth $610,000 after purchasing an additional 487 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Euronet Worldwide by 0.3% in the first quarter. Principal Financial Group Inc. now owns 95,039 shares of the business services provider's stock worth $10,155,000 after purchasing an additional 280 shares in the last quarter. Finally, New South Capital Management Inc. increased its holdings in shares of Euronet Worldwide by 5.9% during the first quarter. New South Capital Management Inc. now owns 647,810 shares of the business services provider's stock valued at $69,218,000 after acquiring an additional 36,267 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

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.