Nuvei (NASDAQ:NVEI) Given New $80.00 Price Target at Royal Bank of Canada

Nuvei (NASDAQ:NVEIGet Rating) had its target price lowered by Royal Bank of Canada from $100.00 to $80.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 84.80% from the company’s previous close.

Several other brokerages have also recently issued reports on NVEI. Citigroup lowered their price objective on shares of Nuvei from $63.00 to $50.00 in a research note on Wednesday. Raymond James lowered their price objective on shares of Nuvei from $166.00 to $67.00 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. Westpark Capital began coverage on shares of Nuvei in a research note on Thursday, April 21st. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Nuvei from $65.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $87.82.

NVEI stock traded up $2.06 during midday trading on Thursday, hitting $43.29. The stock had a trading volume of 9,953 shares, compared to its average volume of 376,929. 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 has a 12-month low of $38.89 and a 12-month high of $140.23. The business has a 50-day moving average price of $62.56.

Nuvei (NASDAQ:NVEIGet Rating) last announced its quarterly earnings data on Tuesday, March 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.15). The firm had revenue of $211.88 million for the quarter, compared to the consensus estimate of $209.60 million. Research analysts forecast that Nuvei will post 1.27 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Capital International Investors acquired a new stake in shares of Nuvei in the 4th quarter valued at about $232,733,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Nuvei in the 4th quarter valued at about $173,470,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Nuvei in the 4th quarter valued at about $91,814,000. Point72 Asset Management L.P. acquired a new stake in shares of Nuvei in the 4th quarter valued at about $60,178,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Nuvei in the 4th quarter valued at about $57,064,000. Hedge funds and other institutional investors own 30.45% of the company’s stock.

Nuvei Company Profile (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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