Scotiabank Reaffirms "Sector Perform" Rating for Nuvei (NASDAQ:NVEI)

Nuvei (NASDAQ:NVEI - Get Free Report)'s stock had its "sector perform" rating reissued by investment analysts at Scotiabank in a report released on Tuesday, Benzinga reports. They currently have a $34.00 price objective on the stock. Scotiabank's target price points to a potential upside of 5.39% from the stock's previous close.

NVEI has been the topic of a number of other research reports. Canaccord Genuity Group cut their target price on shares of Nuvei from $40.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday. Raymond James boosted their price objective on Nuvei from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. increased their target price on Nuvei from $27.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, December 18th. National Bankshares boosted their price target on Nuvei from $23.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Finally, The Goldman Sachs Group upped their price target on Nuvei from $21.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.88.

Nuvei Trading Down 0.5 %

Shares of NVEI traded down $0.15 during mid-day trading on Tuesday, hitting $32.26. The company had a trading volume of 10,119,331 shares, compared to its average volume of 946,411. Nuvei has a 1-year low of $13.32 and a 1-year high of $43.81. The business's 50-day simple moving average is $26.07 and its 200-day simple moving average is $21.99. The stock has a market cap of $4.50 billion, a PE ratio of -537.58, a P/E/G ratio of 1.91 and a beta of 2.68. 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 (NASDAQ:NVEI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share 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 company had revenue of $321.52 million for the quarter, compared to the consensus estimate of $319.60 million. Sell-side analysts forecast that Nuvei will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Nuvei

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Nuvei by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company's stock valued at $59,943,000 after buying an additional 54,472 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Nuvei by 18.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 607,159 shares of the company's stock valued at $15,944,000 after buying an additional 95,879 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Nuvei in the 4th quarter valued at $248,000. Sylebra Capital LLC boosted its stake in Nuvei by 281.8% in the 4th quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company's stock worth $54,106,000 after purchasing an additional 1,520,721 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Nuvei by 488.9% during the 4th quarter. Nuveen Asset Management LLC now owns 628,549 shares of the company's stock valued at $16,578,000 after acquiring an additional 521,824 shares in the last quarter. 42.45% of the stock is currently owned by institutional investors.

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.