Nuvei Co. (NASDAQ:NVEI) Receives $31.94 Average Target Price from Analysts

Shares of Nuvei Co. (NASDAQ:NVEI) have been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.94.

NVEI has been the subject of a number of research reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Nuvei in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. UBS Group reissued a “neutral” rating and issued a $34.00 target price (up previously from $30.00) on shares of Nuvei in a research note on Wednesday, April 3rd. Raymond James raised their price target on Nuvei from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $34.00 price target (up from $31.00) on shares of Nuvei in a research note on Tuesday, April 2nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. boosted its position in shares of Nuvei by 2.6% during the third quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock valued at $343,000 after purchasing an additional 576 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Nuvei by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock worth $114,248,000 after buying an additional 865,984 shares during the period. Tyche Wealth Partners LLC bought a new position in shares of Nuvei in the 4th quarter worth about $6,830,000. Barclays PLC boosted its stake in Nuvei by 2,516.2% during the third quarter. Barclays PLC now owns 265,514 shares of the company’s stock worth $3,983,000 after acquiring an additional 255,365 shares in the last quarter. Finally, Sylebra Capital LLC purchased a new stake in Nuvei in the third quarter worth about $8,095,000. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Nuvei Stock Up 0.0 %

NVEI opened at $32.07 on Monday. The business’s fifty day simple moving average is $27.82 and its 200 day simple moving average is $23.30. Nuvei has a 52 week low of $13.32 and a 52 week high of $42.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.47 billion, a PE ratio of -534.41, a P/E/G ratio of 1.51 and a beta of 2.68.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $321.52 million for 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%. As a group, research analysts expect that Nuvei will post 1.27 earnings per share for the current fiscal year.

Nuvei Dividend Announcement

The business also recently declared 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. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, March 18th. Nuvei’s dividend payout ratio is currently -666.56%.

Nuvei Company Profile

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.