Nuvei Co. (NASDAQ:NVEI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Nuvei Co. (NASDAQ:NVEIGet Rating) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $71.38.

Several brokerages have recently commented on NVEI. BMO Capital Markets cut their price objective on Nuvei from $121.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Royal Bank of Canada cut their price objective on Nuvei from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. JPMorgan Chase & Co. cut their price objective on Nuvei from $65.00 to $63.00 in a report on Wednesday, July 20th. Canaccord Genuity Group dropped their target price on Nuvei from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 11th. Finally, CIBC downgraded Nuvei from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, August 10th.

Nuvei Stock Down 7.2 %

Shares of NASDAQ NVEI opened at $28.03 on Friday. Nuvei has a 12 month low of $27.71 and a 12 month high of $140.23. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.96 billion and a price-to-earnings ratio of 54.96. The business has a 50-day moving average of $33.13 and a 200-day moving average of $46.09.

Institutional Trading of Nuvei

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Nuvei in the first quarter valued at approximately $26,000. Advisors Asset Management Inc. bought a new stake in Nuvei in the first quarter valued at approximately $88,000. Cutler Group LP bought a new stake in Nuvei in the first quarter valued at approximately $111,000. Harvest Fund Management Co. Ltd bought a new stake in Nuvei in the first quarter valued at approximately $116,000. Finally, Whittier Trust Co. bought a new position in shares of Nuvei during the first quarter valued at approximately $136,000. Institutional investors own 29.02% of the company’s stock.

About Nuvei

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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.

Further Reading

Analyst Recommendations for Nuvei (NASDAQ:NVEI)

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