Nuvei (NASDAQ:NVEI) PT Raised to $30.00

Nuvei (NASDAQ:NVEIGet Free Report) had its price target hoisted by equities research analysts at National Bankshares from $23.00 to $30.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 19.28% from the stock’s current price.

A number of other research firms have also recently weighed in on NVEI. CIBC boosted their target price on shares of Nuvei from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Nuvei in a research report on Thursday, November 30th. Barclays assumed coverage on shares of Nuvei in a report on Wednesday, December 20th. They set an “overweight” rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Nuvei from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, December 18th. Finally, The Goldman Sachs Group upped their target price on shares of Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.88.

Read Our Latest Report on Nuvei

Nuvei Stock Performance

NASDAQ:NVEI traded up $0.65 during mid-day trading on Friday, hitting $25.15. The stock had a trading volume of 162,157 shares, compared to its average volume of 398,046. Nuvei has a twelve month low of $13.32 and a twelve month high of $43.81. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -314.38, a PEG ratio of 1.51 and a beta of 2.66. The company’s 50 day simple moving average is $23.48 and its 200 day simple moving average is $21.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.03.

Nuvei (NASDAQ:NVEIGet Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Nuvei had a negative net margin of 1.07% and a positive return on equity of 6.47%. The firm had revenue of $304.85 million during the quarter, compared to the consensus estimate of $302.47 million. On average, equities research analysts forecast that Nuvei will post 0.91 earnings per share for the current year.

Institutional Trading of Nuvei

Several institutional investors and hedge funds have recently made changes to their positions in NVEI. Bank of New York Mellon Corp raised its position in shares of Nuvei by 14.8% during the 1st quarter. Bank of New York Mellon Corp now owns 68,197 shares of the company’s stock valued at $5,141,000 after buying an additional 8,809 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Nuvei in the 1st quarter worth $26,000. APG Asset Management N.V. purchased a new position in Nuvei in the 1st quarter worth $212,000. Great West Life Assurance Co. Can purchased a new position in Nuvei in the 1st quarter worth $914,000. Finally, Blair William & Co. IL raised its position in Nuvei by 8.8% in the 1st quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock worth $328,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 26.19% of the company’s stock.

About Nuvei

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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.

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