Connors Investor Services Inc. Buys 23,275 Shares of Euronet Worldwide, Inc. $EEFT
Connors Investor Services Inc. increased its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 1,163.8% in Q2, acquiring 23,275 shares, bringing its total to 25,275 shares valued at $2.56 million. Other hedge funds also adjusted their positions. Analysts have mixed ratings on EEFT, with a consensus rating of "Moderate Buy" and a price target of $122.60. Euronet's stock opened at $88.64, with a market cap of $3.63 billion and a P/E ratio of 12.16. The company reported Q2 earnings of $2.56 EPS, missing estimates, with revenue up 8.9% year-over-year.
Connors Investor Services Inc. lifted its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 1,163.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 25,275 shares of the business services provider's stock after acquiring an additional 23,275 shares during the period. Connors Investor Services Inc. owned approximately 0.06% of Euronet Worldwide worth $2,562,000 as of its most recent SEC filing.
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A number of other hedge funds also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of Euronet Worldwide by 20.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,921 shares of the business services provider's stock worth $195,000 after acquiring an additional 325 shares during the last quarter. Nordea Investment Management AB lifted its stake in Euronet Worldwide by 1.0% in the second quarter. Nordea Investment Management AB now owns 72,174 shares of the business services provider's stock worth $7,290,000 after purchasing an additional 710 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Euronet Worldwide in the second quarter worth $1,344,000. New York State Teachers Retirement System lifted its stake in Euronet Worldwide by 0.6% in the second quarter. New York State Teachers Retirement System now owns 23,208 shares of the business services provider's stock worth $2,353,000 after purchasing an additional 140 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in Euronet Worldwide by 26.7% in the second quarter. LRI Investments LLC now owns 1,540 shares of the business services provider's stock worth $156,000 after purchasing an additional 325 shares during the last quarter. 91.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on EEFT. Oppenheimer lowered their price target on shares of Euronet Worldwide from $134.00 to $133.00 and set an "outperform" rating for the company in a research note on Friday, October 17th. DA Davidson restated a "buy" rating and issued a $130.00 price objective on shares of Euronet Worldwide in a research report on Friday, September 12th. Keefe, Bruyette & Woods decreased their price objective on shares of Euronet Worldwide from $110.00 to $100.00 and set a "market perform" rating on the stock in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, October 18th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Euronet Worldwide in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.60.
View Our Latest Stock Analysis on Euronet Worldwide
Euronet Worldwide Trading Down 0.5%
NASDAQ:EEFT opened at $88.64 on Thursday. Euronet Worldwide, Inc. has a one year low of $82.18 and a one year high of $114.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.15 and a quick ratio of 1.15. The company's 50-day simple moving average is $90.16 and its 200 day simple moving average is $98.00. The firm has a market capitalization of $3.63 billion, a P/E ratio of 12.16, a PEG ratio of 0.72 and a beta of 1.21.
Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The business services provider reported $2.56 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.10). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Euronet Worldwide had a return on equity of 26.62% and a net margin of 8.06%.The company's revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 EPS. Euronet Worldwide has set its FY 2025 guidance at 9.640-9.990 EPS. As a group, analysts forecast that Euronet Worldwide, Inc. will post 9.11 EPS for the current fiscal year.
Euronet Worldwide Company Profile
(Free Report)Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.
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