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

Nuvei Co. (NASDAQ:NVEI) has earned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $31.94.

A number of research analysts have recently commented on NVEI shares. Wolfe Research reissued a “peer perform” rating on shares of Nuvei in a report on Tuesday, April 2nd. William Blair downgraded shares of Nuvei from an “outperform” rating to a “market perform” rating in a research report on Monday, April 1st. Citigroup increased their price objective on shares of Nuvei from $27.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Scotiabank reissued a “sector perform” rating and set a $34.00 target price on shares of Nuvei in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their target price on Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th.

Nuvei Price Performance

Shares of NASDAQ:NVEI opened at $32.07 on Monday. The firm’s 50 day moving average is $27.82 and its two-hundred day moving average is $23.30. The firm has a market capitalization of $4.47 billion, a P/E ratio of -534.41, a PEG 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. Nuvei has a 52 week low of $13.32 and a 52 week high of $42.50.

Nuvei (NASDAQ:NVEI) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $321.52 million during the quarter, compared to analyst estimates of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. Analysts anticipate that Nuvei will post 1.27 earnings per share for the current year.

Nuvei Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 19th were given 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 yield of 1.25%. Nuvei’s payout ratio is -666.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Nuvei in the first quarter worth $26,000. IFP Advisors Inc acquired a new position in Nuvei during the 2nd quarter worth $27,000. Advisors Asset Management Inc. bought a new stake in Nuvei during the first quarter valued at about $88,000. Osaic Holdings Inc. boosted its holdings in Nuvei by 77.3% during the second quarter. Osaic Holdings Inc. now owns 1,530 shares of the company’s stock valued at $45,000 after acquiring an additional 667 shares during the period. Finally, US Bancorp DE grew its position in shares of Nuvei by 981.8% in the fourth quarter. US Bancorp DE now owns 1,666 shares of the company’s stock valued at $44,000 after purchasing an additional 1,512 shares during the last quarter. Institutional investors and hedge funds own 42.45% of the company’s stock.

About Nuvei

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.