Nuvei Co. (NASDAQ:NVEI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Nuvei Co. (NASDAQ:NVEI – Get Rating) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $77.83.

NVEI has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Nuvei from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, May 12th. Bank of America lowered their price objective on shares of Nuvei from $82.00 to $67.00 in a research report on Tuesday, May 10th. Credit Suisse Group downgraded Nuvei from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $43.00 in a report on Friday, July 22nd. Westpark Capital assumed coverage on Nuvei in a report on Thursday, April 21st. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Nuvei from $65.00 to $63.00 in a research note on Wednesday, July 20th.

Institutional Investors Weigh In On Nuvei

Hedge funds have recently added to or reduced their stakes in the business. Capital International Investors raised its stake in shares of Nuvei by 102.5% during the first quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock valued at $546,607,000 after acquiring an additional 3,679,400 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Nuvei by 70.0% in the 1st quarter. Wellington Management Group LLP now owns 4,672,026 shares of the company’s stock valued at $352,221,000 after buying an additional 1,923,114 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Nuvei in the fourth quarter valued at about $91,814,000. Point72 Asset Management L.P. bought a new position in shares of Nuvei during the fourth quarter worth about $60,178,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Nuvei in the fourth quarter worth approximately $57,064,000. 30.45% of the stock is currently owned by institutional investors and hedge funds.

Nuvei Stock Up 0.1 %

Shares of NVEI stock opened at $37.52 on Friday. Nuvei has a 1 year low of $29.11 and a 1 year high of $140.23. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $38.60 and a 200 day simple moving average of $51.96.

Nuvei (NASDAQ:NVEI – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $214.54 million for the quarter, compared to the consensus estimate of $211.32 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue was up 42.6% compared to the same quarter last year. Equities analysts expect that Nuvei will post 1.34 earnings per share for the current fiscal year.

Nuvei Company Profile

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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. It provides a suite of payment solutions to support lifecycle of a transaction across mobile or in-app, online, unattended, and in-store channels.