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

Shares of Nuvei Co. (NASDAQ:NVEIGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.94.

A number of equities analysts recently issued reports on NVEI shares. Scotiabank reaffirmed a “sector perform” rating and issued a $34.00 price target on shares of Nuvei in a report on Tuesday, April 2nd. Canaccord Genuity Group reduced their price objective on Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $34.00 price objective (up previously from $31.00) on shares of Nuvei in a research note on Tuesday, April 2nd. National Bankshares boosted their price objective on Nuvei from $23.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Nuvei in a research note on Tuesday, April 2nd.

View Our Latest Analysis on NVEI

Nuvei Stock Performance

Shares of NVEI opened at $32.07 on Monday. The stock has a 50 day moving average price of $27.93 and a 200 day moving average price of $23.48. 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 company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -534.41, a price-to-earnings-growth ratio of 1.51 and a beta of 2.68. Nuvei has a 52-week low of $13.32 and a 52-week high of $42.50.

Nuvei (NASDAQ:NVEIGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $321.52 million during 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%. Research analysts predict that Nuvei will post 1.27 EPS for the current fiscal year.

Nuvei Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVEI. Bank of New York Mellon Corp raised its position in Nuvei by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 68,197 shares of the company’s stock worth $5,141,000 after acquiring an additional 8,809 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Nuvei in the first quarter worth $26,000. APG Asset Management N.V. purchased a new position in Nuvei in the first quarter worth $212,000. Great West Life Assurance Co. Can purchased a new position in Nuvei in the first quarter worth $914,000. Finally, Blair William & Co. IL raised its position in Nuvei by 8.8% in the first quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock worth $328,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 42.45% of the company’s stock.

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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