Nuvei Co. (NASDAQ:NVEI) Receives $32.06 Average PT from Brokerages (2024)

Shares of Nuvei Co. (NASDAQ:NVEI – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.06.

NVEI has been the subject of a number of research analyst reports. Raymond James upped their price objective on shares of Nuvei from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Wolfe Research restated a “peer perform” rating on shares of Nuvei in a research report on Tuesday, April 2nd. Canaccord Genuity Group reduced their price objective on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Royal Bank of Canada increased their target price on shares of Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $34.00 target price on shares of Nuvei in a research report on Tuesday, April 2nd.

Get Our Latest Research Report on NVEI

Institutional Trading of Nuvei

Several hedge funds have recently added to or reduced their stakes in NVEI. Covestor Ltd acquired a new stake in Nuvei in the first quarter valued at approximately $58,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Nuvei by 35.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock worth $191,000 after purchasing an additional 2,095 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Nuvei during the first quarter worth approximately $207,000. Virtu Financial LLC acquired a new stake in Nuvei during the fourth quarter worth approximately $248,000. Finally, CastleKnight Management LP acquired a new stake in Nuvei during the fourth quarter worth approximately $305,000. Institutional investors and hedge funds own 42.45% of the company’s stock.

Nuvei Stock Performance

NVEI opened at $32.20 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a fifty day moving average price of $32.20 and a 200 day moving average price of $27.24. Nuvei has a 1 year low of $13.32 and a 1 year high of $37.41. The stock has a market cap of $4.51 billion, a P/E ratio of -805.00, a P/E/G ratio of 1.56 and a beta of 2.55.

Nuvei (NASDAQ:NVEI – Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). Nuvei had a negative net margin of 0.39% and a positive return on equity of 6.50%. The firm had revenue of $335.11 million during the quarter, compared to analyst estimates of $326.11 million. Equities research analysts anticipate that Nuvei will post 1.22 earnings per share for the current year.

Nuvei Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, May 20th. Nuvei’s payout ratio is -1,000.00%.

Nuvei Company Profile

(Get Free Report

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.

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