Citigroup Raises Nuvei (NASDAQ:NVEI) Price Target to $34.00

Nuvei (NASDAQ:NVEIGet Free Report) had its target price raised by Citigroup from $27.00 to $34.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 5.36% from the stock’s previous close.

Several other equities research analysts have also commented on NVEI. Canaccord Genuity Group cut their price target on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday. National Bankshares upped their price target on shares of Nuvei from $23.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Wolfe Research reaffirmed a “peer perform” rating on shares of Nuvei in a research note on Tuesday. Barclays initiated coverage on Nuvei in a research note on Wednesday, December 20th. They set an “overweight” rating and a $34.00 price objective for the company. Finally, William Blair lowered Nuvei from an “outperform” rating to a “market perform” rating in a research note on Monday. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.29.

Check Out Our Latest Stock Report on Nuvei

Nuvei Price Performance

Shares of NVEI stock traded up $0.01 during mid-day trading on Wednesday, hitting $32.27. 4,062,282 shares of the stock were exchanged, compared to its average volume of 994,268. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. Nuvei has a 52-week low of $13.32 and a 52-week high of $43.81. The firm has a fifty day moving average of $26.07 and a 200 day moving average of $21.99. The company has a market cap of $4.50 billion, a PE ratio of -537.58, a price-to-earnings-growth ratio of 1.95 and a beta of 2.68.

Nuvei (NASDAQ:NVEIGet Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $321.52 million for the quarter, compared to analyst estimates of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. Research analysts anticipate that Nuvei will post 1.27 earnings per share for the current year.

Institutional Trading of Nuvei

Several institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Nuvei in the first quarter worth approximately $26,000. Blair William & Co. IL lifted its stake in shares of Nuvei by 8.8% in the 1st quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock valued at $328,000 after purchasing an additional 350 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Nuvei by 6.0% during the 1st quarter. New York State Common Retirement Fund now owns 6,399 shares of the company’s stock worth $279,000 after purchasing an additional 360 shares during the period. State Street Corp increased its position in shares of Nuvei by 1.1% during the 1st quarter. State Street Corp now owns 41,728 shares of the company’s stock worth $1,816,000 after purchasing an additional 444 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Nuvei by 2.6% in the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock valued at $343,000 after buying an additional 576 shares during the period. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Nuvei Company Profile

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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. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.

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Analyst Recommendations for Nuvei (NASDAQ:NVEI)

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