Edenred (OTCMKTS:EDNMY) Shares Gap Up – Still a Buy?

Edenred (OTCMKTS:EDNMY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $15.80, but opened at $17.00. Edenred shares last traded at $17.00, with a volume of 266 shares changing hands.

Analysts Set New Price Targets

EDNMY has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Edenred in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Edenred in a research note on Monday. Zacks Research downgraded Edenred from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Edenred in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Edenred Stock Performance

The company’s 50-day moving average price is $13.81 and its two-hundred day moving average price is $12.05.

About Edenred

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company’s core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.