Euronet Worldwide (NASDAQ:EEFT) Given New $120.00 Price Target at Needham & Company LLC

Euronet Worldwide (NASDAQ:EEFT - Free Report) had its price objective reduced by Needham & Company LLC from $130.00 to $120.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the business services provider's stock.

EEFT has been the subject of a number of other research reports. StockNews.com downgraded shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, February 22nd. Stephens reissued an "overweight" rating and set a $130.00 price target on shares of Euronet Worldwide in a research report on Friday, February 14th. Keefe, Bruyette & Woods lifted their price objective on Euronet Worldwide from $108.00 to $112.00 and gave the company a "market perform" rating in a report on Friday, February 14th. Finally, William Blair reiterated an "outperform" rating on shares of Euronet Worldwide in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $125.57.

Euronet Worldwide Stock Performance

EEFT stock traded up $1.54 during mid-day trading on Friday, hitting $98.33. 588,902 shares of the company were exchanged, compared to its average volume of 350,891. Euronet Worldwide has a 1-year low of $85.24 and a 1-year high of $117.66. The stock has a market capitalization of $4.25 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18. The business has a 50 day simple moving average of $100.21 and a 200-day simple moving average of $101.07. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.13. Euronet Worldwide had a return on equity of 27.74% and a net margin of 7.69%. The business had revenue of $915.50 million during the quarter, compared to the consensus estimate of $908.93 million. During the same period in the previous year, the company posted $1.28 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Euronet Worldwide will post 9.11 earnings per share for the current year.

Insider Activity

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,418,966 shares in the company, valued at $142,875,686.54. This trade represents a 6.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 11.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EEFT. Janney Montgomery Scott LLC increased its holdings in Euronet Worldwide by 28.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,014 shares of the business services provider's stock worth $1,236,000 after purchasing an additional 2,632 shares in the last quarter. Reinhart Partners LLC. increased its stake in shares of Euronet Worldwide by 3.4% in the fourth quarter. Reinhart Partners LLC. now owns 627,149 shares of the business services provider's stock valued at $64,496,000 after buying an additional 20,824 shares during the period. Value Holdings Management CO. LLC raised its holdings in Euronet Worldwide by 119.8% in the 4th quarter. Value Holdings Management CO. LLC now owns 57,823 shares of the business services provider's stock valued at $5,947,000 after buying an additional 31,518 shares during the last quarter. HighTower Advisors LLC raised its holdings in Euronet Worldwide by 0.8% in the 4th quarter. HighTower Advisors LLC now owns 25,883 shares of the business services provider's stock valued at $2,662,000 after buying an additional 209 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Euronet Worldwide during the 4th quarter worth approximately $28,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.