DA Davidson reiterates Buy rating on Euronet Worldwide stock

Investing.com - DA Davidson has reiterated its Buy rating and $130.00 price target on Euronet Worldwide (NASDAQ:EEFT), which currently trades near its 52-week low of $82.72. According to InvestingPro analysis, the stock appears undervalued, with technical indicators suggesting oversold conditions. The company’s third-quarter earnings report is scheduled for October 17.

The firm anticipates Euronet will meet or modestly exceed both its forecasts and consensus estimates for the quarter. DA Davidson projects third-quarter revenue of $1,216 million, representing 11% year-over-year growth, while consensus estimates stand at $1,201 million. This projection builds on the company’s solid performance, with revenue growing at 8.71% over the last twelve months. For deeper insights into EEFT’s growth metrics and 8 additional exclusive ProTips, consider exploring InvestingPro.

The research firm estimates that Euronet’s constant currency revenue growth was approximately 6% when excluding a foreign exchange tailwind of approximately 550-575 basis points.

With the upcoming earnings release, DA Davidson expects management to affirm their previous forecast of 12%-16% year-over-year growth in adjusted earnings per share for 2025.

Euronet Worldwide operates electronic payment and transaction processing solutions for financial institutions, retailers, service providers, and individual consumers worldwide.

In other recent news, Euronet Worldwide has announced the pricing of $850 million in 0.625% Convertible Senior Notes due 2030, set to be offered in a private placement to qualified institutional buyers. This offering grants initial purchasers an option to acquire up to an additional $150 million in notes, with the transaction expected to close shortly. Additionally, Euronet has entered a collaboration with Dandelion, a company under Euronet Worldwide, to facilitate near-instant cross-border payments into digital wallets, initially launching in several countries, including the Philippines and Indonesia.

In another development, DA Davidson has reiterated its Buy rating on Euronet Worldwide stock, maintaining a price target of $130. This follows Euronet’s recent agreement to acquire CoreCard Corporation in a stock transaction. Meanwhile, Paysign, Inc. has appointed Dan Henry as the new Chairman of the Board. Henry, who has been part of Paysign’s board since 2018, brings extensive fintech leadership experience, including his past role as Co-founder and President of Euronet Worldwide.

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