Nuvei (NASDAQ:NVEI - Free Report) had its target price reduced by Canaccord Genuity Group from $40.00 to $34.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.
NVEI has been the subject of several other reports. Raymond James lifted their target price on Nuvei from $27.00 to $30.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Royal Bank of Canada boosted their target price on Nuvei from $29.00 to $34.00 and gave the company an outperform rating in a research note on Thursday, March 7th. The Goldman Sachs Group boosted their price target on Nuvei from $21.00 to $30.00 and gave the company a neutral rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods restated a market perform rating and issued a $34.00 price target (up from $31.00) on shares of Nuvei in a report on Tuesday. Finally, National Bankshares boosted their price target on Nuvei from $23.00 to $30.00 and gave the company an outperform rating in a report on Friday, January 26th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $31.88.
Read Our Latest Report on Nuvei
Nuvei Price Performance
NVEI traded down $0.15 during trading on Tuesday, hitting $32.26. The company's stock had a trading volume of 10,119,331 shares, compared to its average volume of 946,411. The firm's 50 day moving average price is $26.07 and its two-hundred day moving average price is $21.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. Nuvei has a 12 month low of $13.32 and a 12 month high of $43.81. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of -537.58, a price-to-earnings-growth ratio of 1.91 and a beta of 2.68.
Nuvei (NASDAQ:NVEI - Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $321.52 million during the quarter, compared to analysts' expectations of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. Sell-side analysts forecast that Nuvei will post 1.27 earnings per share for the current fiscal year.
Nuvei Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Tuesday, March 19th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $0.40 annualized dividend and a yield of 1.24%. Nuvei's dividend payout ratio is -666.56%.
Hedge Funds Weigh In On Nuvei
Several institutional investors and hedge funds have recently made changes to their positions in NVEI. Capital International Investors grew its position in shares of Nuvei by 102.5% in the first quarter. Capital International Investors now owns 7,269,586 shares of the company's stock valued at $546,607,000 after purchasing an additional 3,679,400 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Nuvei by 70.0% in the first quarter. Wellington Management Group LLP now owns 4,672,026 shares of the company's stock valued at $352,221,000 after purchasing an additional 1,923,114 shares during the last quarter. Sylebra Capital LLC grew its position in shares of Nuvei by 281.8% in the fourth quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company's stock valued at $54,106,000 after purchasing an additional 1,520,721 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Nuvei in the fourth quarter valued at approximately $30,845,000. Finally, Nuveen Asset Management LLC grew its position in shares of Nuvei by 488.9% in the fourth quarter. Nuveen Asset Management LLC now owns 628,549 shares of the company's stock valued at $16,578,000 after purchasing an additional 521,824 shares during the last quarter. Institutional investors and hedge funds own 42.45% of the company's stock.
Nuvei Company Profile
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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.
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