Analysts Set Nuvei Co. (NASDAQ:NVEI) PT at $31.94

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

A number of equities analysts have commented on NVEI shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 price target (up previously from $31.00) on shares of Nuvei in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on shares of Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. The Goldman Sachs Group upped their price objective on shares of Nuvei from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Scotiabank reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of Nuvei in a research note on Tuesday, April 2nd. Finally, Raymond James upped their price objective on shares of Nuvei from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th.

Hedge Funds Weigh In On Nuvei

Large investors have recently added to or reduced their stakes in the company. Addenda Capital Inc. boosted its position in Nuvei by 5.3% in the first quarter. Addenda Capital Inc. now owns 28,880 shares of the company’s stock valued at $913,000 after buying an additional 1,442 shares during the last quarter. Vanguard Group Inc. boosted its position in Nuvei by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company’s stock worth $59,943,000 after purchasing an additional 54,472 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Nuvei by 18.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 607,159 shares of the company’s stock worth $15,944,000 after purchasing an additional 95,879 shares in the last quarter. Virtu Financial LLC purchased a new stake in Nuvei in the 4th quarter worth approximately $248,000. Finally, Sylebra Capital LLC boosted its position in Nuvei by 281.8% in the 4th quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock worth $54,106,000 after purchasing an additional 1,520,721 shares in the last quarter. 42.45% of the stock is currently owned by institutional investors.

Nuvei Stock Down 0.1 %

Shares of NASDAQ NVEI opened at $32.06 on Monday. The stock has a market capitalization of $4.47 billion, a P/E ratio of -534.24, a P/E/G ratio of 1.51 and a beta of 2.68. The company has a 50-day moving average price of $27.70 and a 200-day moving average price of $23.24. Nuvei has a 1 year low of $13.32 and a 1 year high of $43.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.05 and a quick ratio of 1.05.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. The business had revenue of $321.52 million for the quarter, compared to analyst estimates of $319.60 million. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. On average, equities research analysts forecast that Nuvei will post 1.27 EPS for the current fiscal year.

Nuvei Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 19th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, March 18th. Nuvei’s dividend payout ratio (DPR) is presently -666.56%.

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.