Euronet Worldwide (NASDAQ:EEFT) Shares Gap Up - Time to Buy?

Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $94.42, but opened at $104.00. Euronet Worldwide shares last traded at $105.71, with a volume of 231,581 shares.

Wall Street Analyst Weigh In

EEFT has been the subject of several research reports. Needham & Company LLC reiterated a "buy" rating and set a $120.00 price target on shares of Euronet Worldwide in a report on Thursday, December 12th. Monness Crespi & Hardt raised Euronet Worldwide from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 24th. Stephens reiterated an "overweight" rating and issued a $130.00 target price on shares of Euronet Worldwide in a research note on Friday. Oppenheimer reduced their price objective on Euronet Worldwide from $135.00 to $128.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Finally, StockNews.com downgraded Euronet Worldwide from a "buy" rating to a "hold" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $127.00.

Euronet Worldwide Stock Up 0.7 %

The company has a market cap of $4.60 billion, a P/E ratio of 15.12, a PEG ratio of 0.77 and a beta of 1.43. The business's 50 day moving average price is $100.82 and its 200-day moving average price is $100.87. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.26.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($0.23). Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. On average, analysts anticipate that Euronet Worldwide, Inc. will post 7.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Euronet Worldwide news, CEO Kevin J. Caponecchi sold 52,034 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $106.61, for a total transaction of $5,547,344.74. Following the completion of the sale, the chief executive officer now owns 90,288 shares in the company, valued at approximately $9,625,603.68. The trade was a 36.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Martin L. Bruckner sold 9,397 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $107.31, for a total value of $1,008,392.07. Following the completion of the transaction, the senior vice president now owns 39,983 shares in the company, valued at $4,290,575.73. This represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,910 shares of company stock valued at $8,780,102. 10.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Euronet Worldwide

Several institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. raised its stake in shares of Euronet Worldwide by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,074 shares of the business services provider's stock valued at $1,793,000 after purchasing an additional 133 shares during the period. HighTower Advisors LLC raised its position in Euronet Worldwide by 0.6% during the third quarter. HighTower Advisors LLC now owns 25,674 shares of the business services provider's stock worth $2,540,000 after acquiring an additional 158 shares in the last quarter. Xponance Inc. raised its holdings 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 valued at $493,000 after purchasing an additional 166 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Euronet Worldwide by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,469 shares of the business services provider's stock valued at $768,000 after buying an additional 169 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Euronet Worldwide by 3.6% in the third quarter. State of Alaska Department of Revenue now owns 4,903 shares of the business services provider's stock valued at $486,000 after purchasing an additional 170 shares during the last quarter. 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.