Nuvei Co. (NASDAQ:NVEI – Get Free Report) has received a consensus rating of “Buy” from the twelve analysts that are covering the company, MarketBeat reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $52.80.
Several research analysts recently weighed in on the stock. Raymond James dropped their price objective on shares of Nuvei from $49.00 to $47.00 in a research report on Thursday, May 11th. The Goldman Sachs Group dropped their price objective on shares of Nuvei from $48.00 to $41.00 in a research report on Thursday, July 13th. Royal Bank of Canada lowered their target price on shares of Nuvei from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, May 31st. TheStreet lowered shares of Nuvei from a “c-” rating to a “d” rating in a report on Monday, May 22nd. Finally, National Bankshares lowered their target price on shares of Nuvei from $75.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, July 24th.
Nuvei Stock Performance
NVEI stock opened at $29.93 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average price of $30.82 and a 200 day moving average price of $34.92. Nuvei has a fifty-two week low of $23.71 and a fifty-two week high of $43.81. The stock has a market capitalization of $4.15 billion, a PE ratio of 99.77, a price-to-earnings-growth ratio of 1.15 and a beta of 2.03.
Nuvei (NASDAQ:NVEI – Get Free Report) last posted its quarterly earnings data on Wednesday, May 10th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Nuvei had a return on equity of 7.91% and a net margin of 4.96%. The company had revenue of $256.50 million during the quarter, compared to the consensus estimate of $253.56 million. Analysts forecast that Nuvei will post 1.15 EPS for the current year.
Hedge Funds Weigh In On Nuvei
Several institutional investors and hedge funds have recently made changes to their positions in the company. Triasima Portfolio Management inc. acquired a new position in shares of Nuvei in the 2nd quarter valued at $1,733,876,000. IFP Advisors Inc acquired a new position in Nuvei in the 2nd quarter worth $35,000. Scotia Capital Inc. boosted its stake in Nuvei by 30.9% in the 2nd quarter. Scotia Capital Inc. now owns 29,353 shares of the company’s stock worth $866,000 after purchasing an additional 6,929 shares during the period. Bank of Nova Scotia boosted its stake in Nuvei by 1.2% in the 2nd quarter. Bank of Nova Scotia now owns 94,536 shares of the company’s stock worth $2,792,000 after purchasing an additional 1,096 shares during the period. Finally, Ingalls & Snyder LLC boosted its stake in Nuvei by 77.6% in the 2nd quarter. Ingalls & Snyder LLC now owns 94,270 shares of the company’s stock worth $2,785,000 after purchasing an additional 41,195 shares during the period. Institutional investors and hedge funds own 29.19% of the company’s stock.
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. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.