Nuvei Co. (NASDAQ:NVEI) Receives $32.06 Average Price Target from Analysts

Shares of Nuvei Co. (NASDAQ:NVEI) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.06.

Several analysts recently commented on NVEI shares. Wolfe Research reissued a “peer perform” rating on shares of Nuvei in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded shares of Nuvei from an “overweight” rating to a “neutral” rating and upped their price target for the company from $32.00 to $34.00 in a research report on Wednesday, May 8th. Citigroup upped their price target on shares of Nuvei from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Scotiabank restated a “sector perform” rating and issued a $34.00 price target on shares of Nuvei in a research report on Tuesday, April 2nd. Finally, Canaccord Genuity Group reduced their price target on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVEI. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Nuvei during the 4th quarter worth $30,845,000. NewGen Asset Management Ltd acquired a new position in shares of Nuvei during the 4th quarter worth $11,160,000. Azora Capital LP acquired a new position in shares of Nuvei during the 4th quarter worth $10,239,000. Tyche Wealth Partners LLC acquired a new position in shares of Nuvei during the 4th quarter worth $6,830,000. Finally, Norges Bank acquired a new position in shares of Nuvei during the 4th quarter worth $6,776,000. Institutional investors and hedge funds own 42.45% of the company’s stock.

Nuvei Stock Up 0.1 %

NVEI stock opened at $32.95 on Wednesday. Nuvei has a 12 month low of $13.32 and a 12 month high of $34.67. The firm has a market cap of $4.61 billion, a PE ratio of -823.75, a P/E/G ratio of 1.61 and a beta of 2.53. The firm has a 50 day simple moving average of $32.36 and a 200 day simple moving average of $29.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.04 and a quick ratio of 1.04.

Nuvei (NASDAQ:NVEI) last released its earnings results on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). Nuvei had a negative net margin of 0.39% and a positive return on equity of 6.50%. The business had revenue of $335.11 million for the quarter, compared to analyst estimates of $326.11 million. Equities research analysts forecast that Nuvei will post 1.22 earnings per share for the current fiscal year.

Nuvei Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.21%. Nuvei’s dividend payout ratio (DPR) is -1,000.00%.

About Nuvei

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.