Zacks Investment Research Upgrades Nuvei (NASDAQ:NVEI) to Hold

Nuvei (NASDAQ:NVEIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Nuvei Corporation is a payment technology partner of thriving brands. It provides intelligence and technology businesses. Nuvei Corporation is based in MONTRÉAL. “

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada reduced their price target on shares of Nuvei from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday. Sumitomo Mitsui Financial Group raised their price objective on shares of Nuvei from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, March 29th. Canaccord Genuity Group dropped their price objective on shares of Nuvei from $140.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, January 25th. Citigroup dropped their price objective on shares of Nuvei from $63.00 to $50.00 in a report on Wednesday. Finally, Canaccord Genuity Group dropped their price objective on shares of Nuvei from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $87.82.

NVEI opened at $48.38 on Friday. The firm has a 50 day moving average of $62.48. Nuvei has a 1-year low of $38.89 and a 1-year high of $140.23. 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 (NASDAQ:NVEIGet Rating) last posted its quarterly earnings results on Tuesday, March 8th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates 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. On average, analysts expect that Nuvei will post 1.26 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp bought a new position in Nuvei during the 1st quarter worth approximately $26,000. Cubist Systematic Strategies LLC bought a new stake in shares of Nuvei in the 4th quarter valued at $73,000. Cutler Group LP bought a new stake in shares of Nuvei in the 1st quarter valued at $111,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Nuvei in the 1st quarter valued at $116,000. Finally, Westpac Banking Corp bought a new stake in shares of Nuvei in the 4th quarter valued at $132,000. Hedge funds and other institutional investors 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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