DA Davidson Issues Pessimistic Forecast for Euronet Worldwide (NASDAQ:EEFT) Stock Price

Euronet Worldwide (NASDAQ:EEFT) had its target price cut by equities research analysts at DA Davidson from $124.00 to $112.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 57.79% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on EEFT. Needham & Company LLC cut their target price on Euronet Worldwide from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Monness Crespi & Hardt lowered Euronet Worldwide from a “buy” rating to a “neutral” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods lowered their target price on Euronet Worldwide from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Friday, October 24th. Weiss Ratings downgraded shares of Euronet Worldwide from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 26th. Finally, Wall Street Zen downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $108.33.

Euronet Worldwide Price Performance

Euronet Worldwide stock traded up $3.26 during trading hours on Wednesday, reaching $70.98. 1,065,146 shares of the stock were exchanged, compared to its average volume of 591,463. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.84. Euronet Worldwide has a twelve month low of $67.00 and a twelve month high of $114.25. The company has a market cap of $2.98 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.56 and a beta of 0.82. The stock has a 50 day moving average of $74.88 and a two-hundred day moving average of $83.02.

Hedge Funds Weigh In On Euronet Worldwide

A number of large investors have recently modified their holdings of the company. LRI Investments LLC lifted its holdings in Euronet Worldwide by 26.7% during the second quarter. LRI Investments LLC now owns 1,540 shares of the business services provider’s stock valued at $156,000 after purchasing an additional 325 shares during the last quarter. Meritage Portfolio Management raised its position in shares of Euronet Worldwide by 18.8% in the third quarter. Meritage Portfolio Management now owns 124,343 shares of the business services provider’s stock valued at $10,919,000 after purchasing an additional 19,713 shares during the period. Prudential Financial Inc. raised its position in shares of Euronet Worldwide by 80.3% in the second quarter. Prudential Financial Inc. now owns 98,147 shares of the business services provider’s stock valued at $9,950,000 after purchasing an additional 43,710 shares during the period. American Century Companies Inc. lifted its stake in shares of Euronet Worldwide by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 1,342,733 shares of the business services provider’s stock valued at $136,126,000 after buying an additional 227,597 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in Euronet Worldwide by 20.3% in the 3rd quarter. Reinhart Partners LLC. now owns 1,079,798 shares of the business services provider’s stock worth $94,818,000 after buying an additional 181,888 shares during the period. 91.60% of the stock is currently owned by institutional investors.

About Euronet Worldwide

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.