Needham & Company LLC Cuts Its Price Target on Euronet Worldwide (NASDAQ:EEFT) to $120.00

Euronet worldwide (NASDAQ:EEFT – Get a free report) had its price target cut by analysts at Needham & Company LLC from $125.00 to $120.00 in a research note issued to investors on Thursday, Gasoline reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 19.40% from the stock’s previous close.

Several other equities analysts recently commented on the company. StockNews.com downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Monness Crespi & Hardt boosted their target price on Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. DA Davidson restated a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Citigroup cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and cut their price target for the stock from $118.00 to $110.00 in a research report on Friday, October 18th . Finally, Oppenheimer began coverage on shares of Euronet Worldwide in a research note on Tuesday, October 1st. They set an “outperform” rating and a $121.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Moderate Buy” and a consensus price target of $125.38, according to MarketBeat.com.

Get the latest analysis on Euronet worldwide

Euronet trading worldwide down 1.7%

Actions of Euronet Worldwide stock opened at $100.50 on Thursday. The firm has a market cap of $4.61 billion, a PE ratio of 17.69 and a beta of 1.46. Euronet Worldwide has a 1 year low of $75.41 and a 1 year high of $117.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19, and a quick ratio of 1.19. The stock has a fifty day moving average price of $100.42 and a 200 day moving average price of $104.26.

Euronet worldwide (NASDAQ:EEFT – Get a free report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.04 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. In the same quarter last year, the company posted earnings of $2.53 per share. equities research analysts anticipate that Euronet Worldwide will post 7.88 EPS for the current year.

Indoor activity

In related news, CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $102.58, for a total transaction of $410,320.00. Following the completion of the sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at approximately $1,276,095.20. This trade represents a 0.00 % decrease in the stock holding. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via SEC website. In related news, Director Thomas A. Mcdonnell acquired 3,206 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $93.86 per share, with a total value of $300,915.16. Following the purchase, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $8,447,400. This represents a 0.00% increase in their share ownership. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via SEC website. Also, the CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $102.58, for a total transaction of $410,320.00. Following the sale, the chief executive officer now directly owns 12,440 shares of the company’s stock, valued at $1,276,095.20. This represents a 0.00 % decrease in ownership of the shares. Disclosure for this sale can be found Here. Company insiders own 10.50% of the company’s shares.

Institutional investors intervene in Euronet worldwide

A number of large investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its position in shares of Euronet Worldwide by 4.5% in the first quarter. Clearbridge Investments LLC now owns 567,058 shares of the business services provider’s stock valued at $62,337,000 after purchasing an additional 24,566 shares during the last quarter. LSV Asset Management bought a new position in Euronet Worldwide in the first quarter valued at about $1,638,000. Ellsworth Advisors LLC purchased a new position in shares of Euronet Worldwide in the second quarter worth approximately $514,000. SG Capital Management LLC boosted its holdings in shares of Euronet Worldwide by 106.8% in the first quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock worth $4,610,000 after purchasing an additional 21,654 shares in the last quarter. Finally, New South Capital Management Inc. raised its holdings in shares of Euronet Worldwide by 21.8% in the first quarter. New South Capital Management Inc. now owns 538,419 shares of the business services provider’s stock valued at $59,188,000 after purchasing an additional 96,278 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s shares.

About Euronet Worldwide

(Get a free report)

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 Funds Transfer Processing, epay and Money Transfer. The Electronic Funds Transfer Processing segment provides electronic payment solutions, including ATM cash withdrawal and deposit services, ATM network participation, outsourced ATM and point of sale (POS) management solutions, credit card outsourcing credit and debit and prepaid, card issuing and merchant acquisition services.

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