Euronet Worldwide (NASDAQ:EEFT) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Euronet Worldwide, Inc. (NASDAQ:EEFT) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $70.24 and traded as low as $68.97. Euronet Worldwide shares last traded at $70.09, with a volume of 615,114 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. DA Davidson lowered their target price 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. Stephens dropped their price target on shares of Euronet Worldwide from $71.00 to $63.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Euronet Worldwide in a research note on Wednesday, November 4th. Needham & Company LLC decreased their price objective on shares of Euronet Worldwide from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Finally, Wolfe Research lowered their price objective on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating for the company in a research report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.40.

Euronet Worldwide Price Performance

The company has a debt-to-equity ratio of 1.31, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a 50 day moving average price of $66.58 and a two-hundred day moving average price of $70.24. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.58 and a beta of 0.92.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Tuesday, October 27th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.11). Euronet Worldwide had a net margin of 6.41% and a return on equity of 27.44%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $3.62 EPS. Euronet Worldwide’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Euronet Worldwide, Inc. will post 9.35 EPS for the current year.

Hedge Funds Weigh In On Euronet Worldwide

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in shares of Euronet Worldwide during the second quarter worth about $22,221,000. Walleye Trading LLC purchased a new position in shares of Euronet Worldwide in the second quarter valued at approximately $1,068,000. Rice Hall James & Associates LLC grew its holdings in shares of Euronet Worldwide by 8.3% in the first quarter. Rice Hall James & Associates LLC now owns 241,991 shares of the business services provider’s stock valued at $16,061,000 after purchasing an additional 18,515 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Euronet Worldwide in the second quarter valued at approximately $244,726,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Euronet Worldwide in the second quarter valued at approximately $2,277,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Euronet Worldwide Company Profile

Euronet Worldwide is a global provider of electronic payment and transaction-processing services. Founded in 1994, the company began by developing electronic funds transfer services in Central Europe and has since expanded its offerings and international reach. Its EFT Processing business provides ATM and point-of-sale services, including network operations, payment processing and outsourced solutions for financial institutions and businesses. Through its epay business, Euronet distributes prepaid mobile airtime and other digital products.