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

Nuvei Co. (NASDAQ:NVEI – Get Rating) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $60.38.

NVEI has been the topic of a number of research analyst reports. Wolfe Research decreased their price target on Nuvei from $42.00 to $35.00 in a research report on Thursday, January 5th. Keefe, Bruyette & Woods increased their price target on Nuvei from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, March 9th. JPMorgan Chase & Co. began coverage on Nuvei in a research report on Monday, March 13th. They set an “overweight” rating on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 price objective on shares of Nuvei in a research report on Thursday, March 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of Nuvei in a research report on Thursday, March 9th.

Nuvei Stock Down 2.6 %

NASDAQ NVEI opened at $41.09 on Friday. The firm has a market cap of $5.81 billion, a PE ratio of 105.36, a price-to-earnings-growth ratio of 1.30 and a beta of 1.90. Nuvei has a one year low of $23.71 and a one year high of $79.13. The stock’s 50 day simple moving average is $34.03 and its 200 day simple moving average is $30.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.69 and a quick ratio of 1.69.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVEI. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Nuvei during the 1st quarter worth $26,000. Advisors Asset Management Inc. acquired a new stake in Nuvei during the 1st quarter worth $88,000. APG Asset Management N.V. acquired a new stake in Nuvei during the 1st quarter worth $212,000. Whittier Trust Co. raised its stake in Nuvei by 79.1% during the 3rd quarter. Whittier Trust Co. now owns 3,226 shares of the company’s stock worth $87,000 after buying an additional 1,425 shares during the period. Finally, Toronto Dominion Bank raised its stake in Nuvei by 1,958.1% during the 2nd quarter. Toronto Dominion Bank now owns 4,178 shares of the company’s stock worth $162,000 after buying an additional 3,975 shares during the period. Institutional investors and hedge funds own 29.56% 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.