Euronet Worldwide (NASDAQ:EEFT) Price Target Lowered to $70.00 at Wolfe Research

Euronet Worldwide (NASDAQ:EEFT) had its target price decreased by investment analysts at Wolfe Research from $75.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the business services provider’s stock. Wolfe Research’s target price points to a potential downside of 0.64% from the stock’s current price.

Several other research analysts have also recently weighed in on EEFT. Needham & Company LLC boosted their price target on shares of Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. DA Davidson restated a “buy” rating and issued a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Finally, Weiss Ratings lowered Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Euronet Worldwide presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Euronet Worldwide Stock Up 0.4%

EEFT stock traded up $0.25 during midday trading on Tuesday, reaching $70.45. 100,014 shares of the company’s stock traded hands, compared to its average volume of 696,915. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.56 and a beta of 0.82. The firm’s fifty day moving average price is $73.87 and its 200-day moving average price is $71.40. Euronet Worldwide has a 52 week low of $62.50 and a 52 week high of $96.93. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.56 earnings per share. As a group, sell-side analysts forecast that Euronet Worldwide will post 9.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Euronet Worldwide

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in Euronet Worldwide by 48.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 109 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Euronet Worldwide by 0.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 34,035 shares of the business services provider’s stock valued at $3,450,000 after acquiring an additional 129 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Euronet Worldwide by 23.6% during the 1st quarter. Parallel Advisors LLC now owns 775 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 148 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Euronet Worldwide by 1.8% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 8,748 shares of the business services provider’s stock worth $666,000 after purchasing an additional 158 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Euronet Worldwide by 1.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 10,817 shares of the business services provider’s stock worth $823,000 after purchasing an additional 164 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

About Euronet Worldwide

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.