Edenred (OTCMKTS:EDNMY) Shares Gap Up – Here’s Why

Edenred (OTCMKTS:EDNMY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $10.70, but opened at $11.30. Edenred shares last traded at $11.30, with a volume of 322 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on EDNMY. Zacks Research raised Edenred from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Sanford C. Bernstein cut shares of Edenred from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Morgan Stanley reiterated an “overweight” rating on shares of Edenred in a research report on Wednesday, September 3rd. Finally, Citigroup reissued a “neutral” rating on shares of Edenred in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

Edenred Stock Up 5.6%

The company’s 50 day moving average price is $11.91 and its 200 day moving average price is $13.36.

Edenred Company Profile

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company’s core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.