Nuvei Corporation (NASDAQ: NVEI) stock fell -0.58% on Wednesday to $29.24 against a previous-day closing price of $29.41. With 0.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.35 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $29.87 whereas the lowest price it dropped to was $28.83. The 52-week range on NVEI shows that it touched its highest point at $101.03 and its lowest point at $24.73 during that stretch.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NVEI was down-trending over the past week, with a drop of -8.34%, but this was up by 0.17% over a month. Three-month performance dropped to -12.59% while six-month performance fell -37.29%. The stock lost -68.17% in the past year, while it has lost -55.00% so far this year. A look at the trailing 12-month EPS for NVEI yields 0.55 with Next year EPS estimates of 2.18. For the next quarter, that number is 0.44. This implies an EPS growth rate of 165.80% for this year and 18.35% for next year.
Float and Shares Shorts:
At present, 141.31 million NVEI shares are outstanding with a float of 65.18 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.22 million, which was 2.99% higher than short shares on Sep 14, 2022. In addition to Mr. Philip Fayer as the firm’s Founder, Chair of the Board & CEO, Mr. Yuval Ziv serves as its Pres.
Through their ownership of 70.04% of NVEI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of NVEI, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 4.69% stake in NVEI, the Hartford Mid Cap Fund is the largest stakeholder. A total of 3,060,018 shares are owned by the mutual fund manager. The Fidelity Advisor Series I -Growth, which owns about 4.52% of NVEI stock, is the second-largest Mutual Fund holder. It holds 2,950,574 shares valued at 88.72 million. American Funds EuroPacific Growth holds 4.11% of the stake in NVEI, owning 2,683,545 shares worth 80.69 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NVEI since 16 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NVEI analysts setting a high price target of $106.00 and a low target of $32.00, the average target price over the next 12 months is $49.26. Based on these targets, NVEI could surge 262.52% to reach the target high and rise by 9.44% to reach the target low. Reaching the average price target will result in a growth of 68.47% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NVEI will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of $2.05 being high and $1.79 being low. For NVEI, this leads to a yearly average estimate of $1.84. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Nuvei Corporation surprised analysts by $0.04 when it reported $0.43 EPS against a consensus estimate of $0.39. The surprise factor in the prior quarter was $0.05. Based on analyst estimates, the high estimate for the next quarter is $0.57 and the low estimate is $0.37. The average estimate for the next quarter is thus $0.44.