Brokerages Set Nuvei Co. (NASDAQ:NVEI) Price Target at $31.94

Nuvei Co. (NASDAQ:NVEIGet Free Report) has earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $31.94.

Several research analysts have issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $34.00 price target (up from $31.00) on shares of Nuvei in a report on Tuesday, April 2nd. BMO Capital Markets lowered their price target on shares of Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Citigroup raised their price target on shares of Nuvei from $27.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group raised their price target on shares of Nuvei from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, January 11th.

View Our Latest Research Report on NVEI

Institutional Investors Weigh In On Nuvei

Institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its stake in Nuvei by 2.6% in the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock valued at $343,000 after acquiring an additional 576 shares during the period. Wellington Management Group LLP grew its stake in Nuvei by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock valued at $114,248,000 after acquiring an additional 865,984 shares during the period. Tyche Wealth Partners LLC acquired a new stake in Nuvei in the 4th quarter valued at $6,830,000. Barclays PLC grew its stake in Nuvei by 2,516.2% in the 3rd quarter. Barclays PLC now owns 265,514 shares of the company’s stock valued at $3,983,000 after acquiring an additional 255,365 shares during the period. Finally, Sylebra Capital LLC acquired a new stake in Nuvei in the 3rd quarter valued at $8,095,000. Institutional investors and hedge funds own 42.45% of the company’s stock.

Nuvei Trading Up 0.0 %

Shares of NVEI opened at $32.07 on Monday. Nuvei has a twelve month low of $13.32 and a twelve month high of $42.50. The company has a market cap of $4.47 billion, a P/E ratio of -534.41, a P/E/G ratio of 1.51 and a beta of 2.68. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $27.93 and its 200-day simple moving average is $23.48.

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

Nuvei Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. Nuvei’s payout ratio is -333.28%.

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. 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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