Euronet Worldwide (NASDAQ:EEFT) Stock Breaks Above 200 Day Moving Average – What’s Next?

Euronet Worldwide, Inc. (NASDAQ:EEFT) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $70.33 and traded as high as $70.88. Euronet Worldwide shares last traded at $70.65, with a volume of 980,679 shares.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EEFT. Wolfe Research dropped their price objective on Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 25th. Needham & Company LLC dropped their price target on Euronet Worldwide from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Weiss Ratings lowered Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. DA Davidson lowered their price objective on shares of Euronet Worldwide from $94.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Euronet Worldwide in a research note on Wednesday, October 28th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.40.

Euronet Worldwide Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 1.31. The stock’s 50 day moving average price is $66.49 and its two-hundred day moving average price is $70.33. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.54 and a beta of 0.92.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Tuesday, October 27th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.11). Euronet Worldwide had a net margin of 6.41% and a return on equity of 27.44%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $3.62 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts forecast that Euronet Worldwide, Inc. will post 9.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Euronet Worldwide

Several institutional investors and hedge funds have recently modified their holdings of the stock. PenderFund Capital Management Ltd. acquired a new position in shares of Euronet Worldwide in the second quarter worth about $42,000. Allworth Financial LP acquired a new stake in shares of Euronet Worldwide during the 2nd quarter valued at about $43,000. Parallel Advisors LLC grew its position in shares of Euronet Worldwide by 23.6% during the 1st quarter. Parallel Advisors LLC now owns 775 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 148 shares during the period. State of Wyoming acquired a new stake in shares of Euronet Worldwide during the 2nd quarter valued at about $73,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Euronet Worldwide in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

About Euronet Worldwide

Euronet Worldwide, Inc is a global provider of electronic payment and transaction-processing services. Founded in 1994 and headquartered in Leawood, Kansas, the company serves financial institutions, retailers, mobile network operators, businesses and consumers through operations in markets around the world.

Euronet operates through three principal business segments: electronic financial transactions, epay and money transfer. Its electronic financial transaction business provides automated teller machine (ATM) services, point-of-sale services, card outsourcing, electronic payment processing and related financial technology solutions.