Zacks Investment Research Upgrades Euronet Worldwide (NASDAQ:EEFT) to Strong-Buy

Zacks Investment Research upgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday, reports. Zacks Investment Research currently has $101.00 target price on the business services provider’s stock.

According to Zacks, “Euronet's strong position is backed by constant expansions through strategic acquisitions, favorable results of the Electronic Funds Transfer and Money Transfer segments. Several initiatives, such as the ATM network participation agreements and launch of card issuing products poise it well for growth. Its revenues are consistently growing on solid segmental contributions, slew of products, service launches as well as new geographic options. The company's capital strength impresses. However, its shares have underperformed its industry in a year’s time. It has witnessed its 2020 and 2021 earnings estimates move north over the past 30 days. However, its escalating expenses weigh on margin expansion. Its money transfer services might decline due to the current market volatility.”

Several other equities analysts have also recently issued reports on EEFT. TheStreet cut Euronet Worldwide from a b- rating to a c+ rating in a research report on Friday, March 27th. Needham & Company LLC lowered their price target on Euronet Worldwide from $175.00 to $90.00 and set a buy rating on the stock in a research report on Monday, March 23rd. Wells Fargo & Co reiterated a buy rating on shares of Euronet Worldwide in a research report on Wednesday, April 29th. BidaskClub cut Euronet Worldwide from a sell rating to a strong sell rating in a research report on Saturday, June 27th. Finally, Northland Securities started coverage on Euronet Worldwide in a research report on Friday, June 26th. They set a buy rating and a $125.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $131.11.

EEFT opened at $99.25 on Wednesday. Euronet Worldwide has a 12 month low of $61.27 and a 12 month high of $171.25. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market cap of $5.18 billion, a P/E ratio of 15.63 and a beta of 1.22. The stock’s 50 day moving average price is $98.22 and its 200 day moving average price is $116.65.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Tuesday, April 28th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.14). Euronet Worldwide had a net margin of 11.40% and a return on equity of 24.88%. The business had revenue of $583.90 million during the quarter, compared to analyst estimates of $591.50 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Euronet Worldwide will post 1.05 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Telemus Capital LLC increased its position in Euronet Worldwide by 60.0% during the first quarter. Telemus Capital LLC now owns 4,000 shares of the business services provider’s stock worth $379,000 after buying an additional 1,500 shares during the period. Van Berkom & Associates Inc. grew its stake in shares of Euronet Worldwide by 34.1% in the first quarter. Van Berkom & Associates Inc. now owns 860,246 shares of the business services provider’s stock valued at $73,740,000 after buying an additional 218,676 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Euronet Worldwide in the first quarter valued at about $280,000. Voloridge Investment Management LLC acquired a new stake in shares of Euronet Worldwide in the first quarter valued at about $1,327,000. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Euronet Worldwide in the first quarter valued at about $1,693,000. 93.93% of the stock is owned by institutional investors and hedge funds.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.

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