Euronet Worldwide (NASDAQ:EEFT) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Euronet Worldwide shares crossed above their 200-day moving average, trading as high as $70.88 and last at $70.65, versus the average of $70.33.
• Analyst views are mixed: the consensus rating is Hold with a $73.40 target price; recent firms cut targets, though some maintained Buy or Overweight ratings.
• The company’s latest quarter fell short of expectations, reporting EPS of $3.55 versus $3.66 forecast and revenue of $1.16 billion versus $1.19 billion expected; revenue still rose 1.3% year over year.

Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $70.33 and traded as high as $70.88. Euronet Worldwide shares last traded at $70.65, with a volume of 980,679 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. DA Davidson reduced their price objective on Euronet Worldwide from $94.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, October 28th. Needham & Company LLC reduced their price target on shares of Euronet Worldwide from $90.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, October 27th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Euronet Worldwide in a research report on Wednesday, October 28th. Weiss Ratings downgraded Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Finally, Stephens dropped their price target on shares of Euronet Worldwide from $71.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $73.40.

Euronet Worldwide Price Performance

The stock has a market cap of $2.69 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.54 and a beta of 0.92. The business has a 50 day simple moving average of $66.49 and a 200-day simple moving average of $70.33. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.37 and a current ratio of 1.42.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The business services provider reported $3.55 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.11). The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.19 billion. Euronet Worldwide had a net margin of 6.41% and a return on equity of 27.44%. Euronet Worldwide's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.62 EPS. On average, sell-side analysts forecast that Euronet Worldwide, Inc. will post 9.35 EPS for the current year.

Institutional Trading of Euronet Worldwide

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Euronet Worldwide by 23.6% during the first quarter. Parallel Advisors LLC now owns 775 shares of the business services provider's stock valued at $51,000 after buying an additional 148 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Euronet Worldwide by 11.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,733 shares of the business services provider's stock valued at $115,000 after acquiring an additional 177 shares during the last quarter. State of Michigan Retirement System increased its stake in Euronet Worldwide by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 9,417 shares of the business services provider's stock worth $625,000 after acquiring an additional 200 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Euronet Worldwide by 2.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 7,980 shares of the business services provider's stock worth $530,000 after buying an additional 200 shares in the last quarter. Finally, Net Worth Advisory Group increased its stake in Euronet Worldwide by 8.6% during the third quarter. Net Worth Advisory Group now owns 3,339 shares of the business services provider's stock worth $212,000 after acquiring an additional 263 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 is a global provider of electronic payment and transaction-processing services. Founded in 1994 and headquartered in Leawood, Kansas, the company serves financial institutions, retailers, mobile network operators, businesses and consumers through operations in markets around the world.

Euronet operates through three principal business segments: electronic financial transactions, epay and money transfer. Its electronic financial transaction business provides automated teller machine (ATM) services, point-of-sale services, card outsourcing, electronic payment processing and related financial technology solutions.

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