Needham & Company LLC Cuts Euronet Worldwide (NASDAQ:EEFT) Price Target to $120.00

Euronet Worldwide (NASDAQ:EEFT) had its price objective lowered by Needham & Company LLC from $130.00 to $120.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Other analysts have also recently issued research reports about the stock. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of Euronet Worldwide in a research note on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on Euronet Worldwide from $108.00 to $112.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. William Blair restated an “outperform” rating on shares of Euronet Worldwide in a research report on Thursday. Finally, StockNews.com cut Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Euronet Worldwide presently has a consensus rating of “Moderate Buy” and an average target price of $125.57.

Euronet Worldwide Stock Down 2.2 %

Shares of NASDAQ EEFT opened at $96.79 on Friday. The stock has a market cap of $4.18 billion, a PE ratio of 14.96, a P/E/G ratio of 0.78 and a beta of 1.18. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92. Euronet Worldwide has a 12-month low of $85.24 and a 12-month high of $117.66. The company has a 50-day moving average of $100.41 and a 200 day moving average of $101.07.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.23). Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. As a group, sell-side analysts predict that Euronet Worldwide will post 9.11 EPS for the current fiscal year.

Insider Transactions at Euronet Worldwide

In related news, CEO Michael J. Brown sold 95,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $100.69, for a total transaction of $9,565,550.00. Following the sale, the chief executive officer now directly owns 1,418,966 shares of the company’s stock, valued at $142,875,686.54. This represents a 6.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.20% of the company’s stock.

Institutional Trading of Euronet Worldwide

A number of large investors have recently modified their holdings of EEFT. State of Alaska Department of Revenue increased its holdings in Euronet Worldwide by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 4,833 shares of the business services provider’s stock worth $516,000 after purchasing an additional 120 shares during the period. Fifth Third Bancorp increased its stake in shares of Euronet Worldwide by 6.8% during the first quarter. Fifth Third Bancorp now owns 1,929 shares of the business services provider’s stock worth $206,000 after buying an additional 123 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Euronet Worldwide by 4.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,492 shares of the business services provider’s stock worth $373,000 after buying an additional 147 shares during the period. Xponance Inc. lifted its stake in Euronet Worldwide by 3.6% in the fourth quarter. Xponance Inc. now owns 4,790 shares of the business services provider’s stock worth $493,000 after acquiring an additional 166 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Euronet Worldwide by 2.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,469 shares of the business services provider’s stock worth $768,000 after acquiring an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.