Euronet Worldwide (NASDAQ:EEFT) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Euronet Worldwide (NASDAQ:EEFT) experienced a significant surge in trading volume, with about 1.45 million shares traded, a 226% increase from the previous session.
• The company's stock price has seen mixed analyst ratings, with five analysts rating it as a buy and an average target price of $123.83.
• Euronet reported a quarterly earnings miss with earnings per share of $2.56, falling short of expectations and registering an 8.9% revenue growth year-over-year.

Euronet Worldwide, Inc. (NASDAQ:EEFT - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 1,447,263 shares changed hands during trading, an increase of 226% from the previous session's volume of 444,170 shares.The stock last traded at $97.12 and had previously closed at $97.72.

Analyst Upgrades and Downgrades

EEFT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Euronet Worldwide from $112.00 to $110.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Oppenheimer lifted their target price on Euronet Worldwide from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Needham & Company LLC dropped their target price on Euronet Worldwide from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, William Blair reaffirmed an "outperform" rating on shares of Euronet Worldwide in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Euronet Worldwide presently has an average rating of "Moderate Buy" and an average price target of $123.83.

Euronet Worldwide Stock Down 1.6%

The firm has a 50 day moving average price of $102.31 and a 200-day moving average price of $102.16. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.74. The firm has a market cap of $3.94 billion, a PE ratio of 13.20, a PEG ratio of 0.76 and a beta of 1.25.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.10). The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.08 billion. Euronet Worldwide had a net margin of 8.06% and a return on equity of 26.62%. The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.25 EPS. Research analysts forecast that Euronet Worldwide, Inc. will post 9.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Euronet Worldwide

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL lifted its stake in Euronet Worldwide by 2.0% during the first quarter. Blair William & Co. IL now owns 5,007 shares of the business services provider's stock worth $535,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Euronet Worldwide by 48.4% during the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider's stock worth $36,000 after purchasing an additional 109 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Euronet Worldwide by 4.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,420 shares of the business services provider's stock worth $245,000 after purchasing an additional 113 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Euronet Worldwide by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 4,833 shares of the business services provider's stock worth $516,000 after purchasing an additional 120 shares during the last quarter. Finally, Fiduciary Financial Group LLC lifted its stake in Euronet Worldwide by 5.1% during the second quarter. Fiduciary Financial Group LLC now owns 2,455 shares of the business services provider's stock worth $255,000 after purchasing an additional 120 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.

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