Nuvei (NASDAQ:NVEI) Announces Earnings Results, Beats Expectations By $0.05 EPS

Nuvei (NASDAQ:NVEI – Get Rating) posted its earnings results on Tuesday. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05, MarketWatch Earnings reports. 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 previous year, the company posted $0.35 EPS. Nuvei’s quarterly revenue was up 42.6% compared to the same quarter last year. Nuvei updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Shares of NVEI stock traded down $4.99 on Tuesday, reaching $39.77. 20,599 shares of the stock were exchanged, compared to its average volume of 372,951. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $62.93. Nuvei has a 1-year low of $43.10 and a 1-year high of $140.23.

NVEI has been the topic of a number of recent research reports. Zacks Investment Research lowered Nuvei from a “hold” rating to a “sell” rating in a research note on Tuesday, January 25th. Sumitomo Mitsui Financial Group upped their target price on Nuvei from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, March 29th. Royal Bank of Canada cut their price target on Nuvei from $145.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, March 9th. The Goldman Sachs Group assumed coverage on Nuvei in a report on Tuesday, January 11th. They issued a “buy” rating for the company. Finally, Credit Suisse Group cut their price target on Nuvei from $125.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $103.90.

Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Nuvei during the 4th quarter worth $73,000. Allianz Asset Management GmbH acquired a new stake in shares of Nuvei during the 4th quarter worth $219,000. Alliancebernstein L.P. acquired a new stake in shares of Nuvei during the 4th quarter worth $229,000. Squarepoint Ops LLC acquired a new stake in Nuvei in the 4th quarter valued at $279,000. Finally, Invesco Ltd. acquired a new stake in Nuvei in the 4th quarter valued at $441,000. Institutional investors and hedge funds own 30.45% of the company’s stock.

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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