Nuvei Co. (NASDAQ:NVEI – Get Rating) shares hit a new 52-week low during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $82.00 to $67.00. The stock traded as low as $38.89 and last traded at $42.37, with a volume of 741576 shares changing hands. The stock had previously closed at $44.76.
Several other brokerages have also commented on NVEI. Sumitomo Mitsui Financial Group boosted their target price on shares of Nuvei from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 29th. Zacks Investment Research lowered shares of Nuvei from a “hold” rating to a “sell” rating in a research report on Tuesday, January 25th. Raymond James decreased their target price on shares of Nuvei from $166.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 9th. Westpark Capital initiated coverage on shares of Nuvei in a research report on Thursday, April 21st. They set a “buy” rating on the stock. Finally, Royal Bank of Canada decreased their target price on shares of Nuvei from $145.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $96.10.
Several hedge funds and other institutional investors have recently bought and sold shares of NVEI. Cubist Systematic Strategies LLC acquired a new position in shares of Nuvei during the 4th quarter valued at about $73,000. Cutler Group LP acquired a new position in shares of Nuvei during the 1st quarter valued at about $111,000. Ensign Peak Advisors Inc acquired a new position in shares of Nuvei during the 4th quarter valued at about $123,000. Westpac Banking Corp acquired a new position in shares of Nuvei during the 4th quarter valued at about $132,000. Finally, Whittier Trust Co. acquired a new stake in Nuvei during the 1st quarter worth approximately $136,000. 30.45% of the stock is owned by institutional investors.
The stock has a 50-day moving average of $62.74. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.78 and a current ratio of 1.78.
Nuvei (NASDAQ:NVEI – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $214.54 million for the quarter, compared to analyst estimates of $211.32 million. The firm’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. As a group, research analysts anticipate that Nuvei Co. will post 1.27 earnings per share for the current year.
Nuvei Company Profile (NASDAQ:NVEI)
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. It provides a suite of payment solutions to support lifecycle of a transaction across mobile or in-app, online, unattended, and in-store channels.