Citigroup Boosts Nuvei (NASDAQ:NVEI) Price Target to $34.00

Nuvei (NASDAQ:NVEI - Get Free Report) had its target price hoisted by stock analysts at Citigroup from $27.00 to $34.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's target price suggests a potential upside of 5.56% from the company's previous close.

A number of other equities analysts have also commented on the stock. National Bankshares raised their price objective on shares of Nuvei from $23.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $34.00 target price (up previously from $31.00) on shares of Nuvei in a research report on Tuesday. Canaccord Genuity Group cut their target price on shares of Nuvei from $40.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday. William Blair downgraded shares of Nuvei from an "outperform" rating to a "market perform" rating in a research report on Monday. Finally, Barclays started coverage on shares of Nuvei in a research report on Wednesday, December 20th. They issued an "overweight" rating and a $34.00 target price for the company. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.29.

Nuvei Trading Down 0.2 %

Nuvei stock traded down $0.05 during midday trading on Wednesday, reaching $32.21. The stock had a trading volume of 5,456,551 shares, compared to its average volume of 1,016,882. The firm's fifty day simple moving average is $26.22 and its two-hundred day simple moving average is $22.07. Nuvei has a twelve month low of $13.32 and a twelve month high of $43.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -536.74, a PEG ratio of 1.95 and a beta of 2.68.

Nuvei (NASDAQ:NVEI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. The firm had revenue of $321.52 million during the quarter, compared to analyst estimates of $319.60 million. Equities analysts anticipate that Nuvei will post 1.27 EPS for the current fiscal year.

Institutional Trading of Nuvei

Several institutional investors have recently made changes to their positions in NVEI. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Nuvei during the 1st quarter valued at about $26,000. IFP Advisors Inc acquired a new stake in shares of Nuvei during the 2nd quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its position in shares of Nuvei by 778.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,635 shares of the company's stock valued at $39,000 after acquiring an additional 2,335 shares in the last quarter. US Bancorp DE boosted its position in shares of Nuvei by 981.8% during the 4th quarter. US Bancorp DE now owns 1,666 shares of the company's stock valued at $44,000 after acquiring an additional 1,512 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in Nuvei by 77.3% in the second quarter. Osaic Holdings Inc. now owns 1,530 shares of the company's stock valued at $45,000 after buying an additional 667 shares in the last quarter. 42.45% of the stock is currently owned by institutional investors and hedge funds.

Nuvei Company Profile

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.