Nuvei (NASDAQ:NVEI – Get Free Report) had its price target lowered by analysts at BMO Capital Markets from $60.00 to $45.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 142.46% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of Nuvei from $70.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, August 14th. Raymond James decreased their target price on shares of Nuvei from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, October 17th. Credit Suisse Group decreased their target price on shares of Nuvei from $42.00 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, August 10th. Royal Bank of Canada decreased their target price on shares of Nuvei from $42.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, August 10th. Finally, The Goldman Sachs Group upped their target price on shares of Nuvei from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.80.
Nuvei Stock Performance
Nuvei (NASDAQ:NVEI – Get Free Report) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The firm had revenue of $307.03 million for the quarter, compared to analysts’ expectations of $306.48 million. Nuvei had a positive return on equity of 6.47% and a negative net margin of 1.07%. On average, research analysts forecast that Nuvei will post 0.8 EPS for the current fiscal year.
Institutional Investors Weigh In On Nuvei
Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Nuvei by 14.8% during the 1st quarter. Bank of New York Mellon Corp now owns 68,197 shares of the company’s stock worth $5,141,000 after purchasing an additional 8,809 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Nuvei during the 1st quarter worth about $26,000. APG Asset Management N.V. bought a new position in shares of Nuvei during the 1st quarter worth about $212,000. Great West Life Assurance Co. Can bought a new position in shares of Nuvei during the 1st quarter worth about $914,000. Finally, Blair William & Co. IL lifted its holdings in shares of Nuvei by 8.8% during the 1st quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock worth $328,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 26.19% of the company’s stock.
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. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.
- Five stocks we like better than Nuvei
- Why is the Ex-Dividend Date Significant to Investors?
- Data giants MongoDB and Snowflake just got upgraded
- What Are Trending Stocks? Trending Stocks Explained
- Plug Power at tipping point; it’s make or break time for hydrogen
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- Palantir’s Q3 earnings beat: Time to buy despite analyst caution?
Receive News & Ratings for Nuvei Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvei and related companies with MarketBeat.com's FREE daily email newsletter.