Nuvei (NASDAQ:NVEI) Stock Rating Reaffirmed by Scotiabank

Nuvei (NASDAQ:NVEIGet Free Report)‘s stock had its “sector perform” rating restated by equities research analysts at Scotiabank in a report issued on Tuesday, Benzinga reports. They currently have a $34.00 price objective on the stock. Scotiabank’s price objective suggests a potential upside of 5.56% from the stock’s previous close.

Several other brokerages also recently weighed in on NVEI. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 price target (up previously from $31.00) on shares of Nuvei in a report on Tuesday. The Goldman Sachs Group lifted their target price on shares of Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. BMO Capital Markets cut their price target on shares of Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Barclays began coverage on shares of Nuvei in a research note on Wednesday, December 20th. They set an “overweight” rating and a $34.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Nuvei from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.29.

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Nuvei Trading Down 0.2 %

NASDAQ:NVEI opened at $32.21 on Tuesday. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -536.74, a PEG ratio of 1.95 and a beta of 2.68. Nuvei has a 52 week low of $13.32 and a 52 week high of $43.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $26.22 and a 200 day moving average of $22.07.

Nuvei (NASDAQ:NVEIGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $321.52 million for the quarter, compared to the consensus estimate of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. As a group, sell-side analysts anticipate that Nuvei will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvei

A number of large investors have recently added to or reduced their stakes in NVEI. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Nuvei during the first quarter worth about $26,000. IFP Advisors Inc acquired a new stake in Nuvei in the 2nd quarter worth about $27,000. Tower Research Capital LLC TRC boosted its holdings in Nuvei by 778.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,635 shares of the company’s stock worth $39,000 after buying an additional 2,335 shares during the last quarter. US Bancorp DE boosted its stake in shares of Nuvei by 981.8% in the fourth quarter. US Bancorp DE now owns 1,666 shares of the company’s stock worth $44,000 after acquiring an additional 1,512 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Nuvei by 77.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,530 shares of the company’s stock worth $45,000 after purchasing an additional 667 shares during the last quarter. 42.45% of the stock is currently owned by institutional investors and hedge funds.

About Nuvei

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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. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.

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Analyst Recommendations for Nuvei (NASDAQ:NVEI)

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