Edenred (OTCMKTS:EDNMY) Shares Gap Up – Time to Buy?

Edenred (OTCMKTS:EDNMY) gapped up before the market opened on Tuesday . The stock had previously closed at $10.00, but opened at $10.50. Edenred shares last traded at $10.35, with a volume of 6,554 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EDNMY shares. Zacks Research upgraded Edenred from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. Kepler Capital Markets upgraded shares of Edenred to a “strong-buy” rating in a report on Sunday, March 15th. Finally, UBS Group downgraded Edenred from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Edenred Price Performance

The business has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $11.47.

About Edenred

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company’s core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.