Euronet Worldwide (NASDAQ:EEFT) Reaches New 52-Week High – What’s Next?

Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $114.25 and last traded at $113.48, with a volume of 44033 shares. The stock had previously closed at $112.70.

Analysts Set New Price Targets

Several research firms have issued reports on EEFT. Keefe, Bruyette & Woods cut their price objective on Euronet Worldwide from $112.00 to $110.00 and set a “market perform” rating on the stock in a report on Friday, April 25th. Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of Euronet Worldwide in a report on Friday, February 14th. William Blair reissued an “outperform” rating on shares of Euronet Worldwide in a research note on Thursday, April 24th. Needham & Company LLC lowered their price target on shares of Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Euronet Worldwide presently has an average rating of “Moderate Buy” and an average target price of $125.57.

Euronet Worldwide Stock Performance

The stock has a market cap of $4.75 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.26 and a current ratio of 1.25. The firm has a fifty day moving average price of $103.33 and a 200 day moving average price of $102.58.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.13. The firm had revenue of $915.50 million for the quarter, compared to analyst estimates of $908.93 million. Euronet Worldwide had a return on equity of 27.74% and a net margin of 7.69%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. Research analysts forecast that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Euronet Worldwide

Several institutional investors and hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of Euronet Worldwide in the 4th quarter valued at about $28,000. Elequin Capital LP bought a new position in shares of Euronet Worldwide during the 1st quarter valued at $30,000. Geneos Wealth Management Inc. lifted its stake in shares of Euronet Worldwide by 48.4% in the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider’s stock worth $36,000 after buying an additional 109 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Euronet Worldwide by 92.3% during the 1st quarter. UMB Bank n.a. now owns 450 shares of the business services provider’s stock worth $48,000 after acquiring an additional 216 shares during the period. Finally, Covestor Ltd boosted its stake in Euronet Worldwide by 40.9% in the 4th quarter. Covestor Ltd now owns 713 shares of the business services provider’s stock valued at $73,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Euronet Worldwide

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.