$221.50 Million in Sales Expected for Nuvei Co. (NASDAQ:NVEI) This Quarter

Wall Street analysts expect Nuvei Co. (NASDAQ:NVEIGet Rating) to report sales of $221.50 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Nuvei’s earnings. The highest sales estimate is $222.00 million and the lowest is $220.80 million. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Nuvei will report full year sales of $959.66 million for the current fiscal year, with estimates ranging from $943.15 million to $972.60 million. For the next year, analysts anticipate that the firm will report sales of $1.24 billion, with estimates ranging from $1.19 billion to $1.27 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Nuvei.

Nuvei (NASDAQ:NVEIGet Rating) last announced its earnings results on Tuesday, March 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.15). The business had revenue of $211.88 million for the quarter, compared to the consensus estimate of $209.60 million.

Several analysts have issued reports on NVEI shares. JPMorgan Chase & Co. boosted their target price on shares of Nuvei from $65.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 29th. Westpark Capital began coverage on shares of Nuvei in a research note on Thursday, April 21st. They set a “buy” rating on the stock. Credit Suisse Group dropped their price target on shares of Nuvei from $125.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 9th. Canaccord Genuity Group dropped their price target on shares of Nuvei from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, May 11th. Finally, Citigroup dropped their price target on shares of Nuvei from $63.00 to $50.00 in a research note on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $87.82.

NASDAQ:NVEI traded up $0.50 during trading hours on Friday, hitting $45.62. 14,076 shares of the stock traded hands, compared to its average volume of 336,354. The business’s 50 day simple moving average is $62.47. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.27. Nuvei has a fifty-two week low of $38.89 and a fifty-two week high of $140.23.

Hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Nuvei during the first quarter valued at about $26,000. Cubist Systematic Strategies LLC bought a new stake in Nuvei during the fourth quarter valued at about $73,000. Cutler Group LP bought a new stake in Nuvei during the first quarter valued at about $111,000. Harvest Fund Management Co. Ltd bought a new stake in Nuvei during the first quarter valued at about $116,000. Finally, Westpac Banking Corp bought a new stake in Nuvei during the fourth quarter valued at about $132,000. Institutional investors own 30.45% of the company’s stock.

Nuvei Company Profile (Get Rating)

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. It provides a suite of payment solutions to support lifecycle of a transaction across mobile or in-app, online, unattended, and in-store channels.

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