Euronet Worldwide (NASDAQ:EEFT) Price Target Cut to $120.00 by Analysts at Needham & Company LLC

Euronet Worldwide (NASDAQ:EEFT) had its price target lowered by Needham & Company LLC from $130.00 to $120.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of Euronet Worldwide in a research report on Friday, February 14th. Keefe, Bruyette & Woods boosted their target price on shares of Euronet Worldwide from $108.00 to $112.00 and gave the company a “market perform” rating in a research note on Friday, February 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Euronet Worldwide in a research note on Thursday. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.57.

Euronet Worldwide Trading Down 2.2 %

EEFT stock opened at $96.79 on Friday. Euronet Worldwide has a twelve month low of $85.24 and a twelve month high of $117.66. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 0.92. The firm’s fifty day simple moving average is $100.41 and its two-hundred day simple moving average is $101.01.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.23). Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. As a group, analysts anticipate that Euronet Worldwide will post 9.11 earnings per share for the current year.

Insider Transactions at Euronet Worldwide

In related news, CEO Michael J. Brown sold 95,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $100.69, for a total value of $9,565,550.00. Following the completion of the sale, the chief executive officer now directly owns 1,418,966 shares of the company’s stock, valued at $142,875,686.54. This represents a 6.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.20% of the company’s stock.

Institutional Investors Weigh In On Euronet Worldwide

Several large investors have recently modified their holdings of the business. State of Alaska Department of Revenue increased its holdings in Euronet Worldwide by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 4,833 shares of the business services provider’s stock valued at $516,000 after buying an additional 120 shares during the period. Fifth Third Bancorp boosted its position in Euronet Worldwide by 6.8% during the 1st quarter. Fifth Third Bancorp now owns 1,929 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 123 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Euronet Worldwide by 4.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,492 shares of the business services provider’s stock valued at $373,000 after acquiring an additional 147 shares during the period. Xponance Inc. raised its position in shares of Euronet Worldwide by 3.6% in the 4th quarter. Xponance Inc. now owns 4,790 shares of the business services provider’s stock worth $493,000 after acquiring an additional 166 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Euronet Worldwide by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,469 shares of the business services provider’s stock worth $768,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.