Bank of America Trims Nuvei (NASDAQ:NVEI) Target Price to $67.00

Nuvei (NASDAQ:NVEIGet Rating) had its target price decreased by stock analysts at Bank of America from $82.00 to $67.00 in a report released on Tuesday, The Fly reports. Bank of America‘s price target would suggest a potential upside of 58.13% from the company’s previous close.

A number of other research firms have also recently commented on NVEI. Sumitomo Mitsui Financial Group boosted their price target on shares of Nuvei from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 29th. Royal Bank of Canada cut their price objective on shares of Nuvei from $145.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, March 9th. Zacks Investment Research cut shares of Nuvei from a “hold” rating to a “sell” rating in a research note on Tuesday, January 25th. Credit Suisse Group cut their price objective on shares of Nuvei from $125.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, March 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Nuvei in a research note on Tuesday, January 11th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nuvei presently has a consensus rating of “Buy” and a consensus target price of $96.10.

NVEI stock traded down $2.39 during midday trading on Tuesday, reaching $42.37. The company had a trading volume of 741,576 shares, compared to its average volume of 377,104. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.78 and a quick ratio of 1.78. Nuvei has a 1 year low of $38.89 and a 1 year high of $140.23. The company’s 50-day moving average is $62.93.

Nuvei (NASDAQ:NVEIGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $214.54 million during the quarter, compared to analysts’ expectations of $211.32 million. During the same period in the prior year, the firm earned $0.35 EPS. Nuvei’s quarterly revenue was up 42.6% on a year-over-year basis. On average, research analysts expect that Nuvei will post 1.27 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in Nuvei during the 4th quarter valued at $73,000. Cutler Group LP bought a new position in Nuvei in the 1st quarter worth $111,000. Westpac Banking Corp bought a new position in Nuvei in the 4th quarter worth $132,000. Whittier Trust Co. bought a new position in Nuvei in the 1st quarter worth $136,000. Finally, Ensign Peak Advisors Inc bought a new position in Nuvei in the 4th quarter worth $123,000. 30.45% of the stock is owned by institutional investors and hedge funds.

About Nuvei (Get Rating)

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.

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