Nuvei Corporation (NASDAQ: NVEI): Stock Performance & Trend Analysis

In today’s recent session, 0.43 million shares of the Nuvei Corporation (NASDAQ:NVEI) have been traded, and its beta is 2.78. Most recently the company’s share price was $33.38, and it changed around $1.76 or 5.55% from the last close, which brings the market valuation of the company to $4.66B. NVEI at last check was trading at a discount to its 52-week high of $43.81, offering almost -31.25% off that amount. The share price’s 52-week low was $13.32, which indicates that the recent value has risen by an impressive 60.1% since then. We note from Nuvei Corporation’s average daily trading volume that its 10-day average is 1.82 million shares, with the 3-month average coming to 645.41K.

Nuvei Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.42. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended NVEI as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Nuvei Corporation is expected to report earnings per share of $0.44 for the current quarter.

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Nuvei Corporation (NASDAQ:NVEI) trade information

Instantly NVEI has been showing a green trend so far today with a performance of 5.55% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 27.09% year-to-date, but still up 14.57% over the last five days. On the other hand, Nuvei Corporation (NASDAQ:NVEI) is 26.23% up in the 30-day period. We can see from the shorts that 1.5 million shares have been sold at a short interest cover period of 2.66 day(s).

The consensus price target as assigned by Wall Street analysts is $42.5, which translates to bulls needing to increase their stock price by 21.46% from its current value. Analyst projections state that NVEI is forecast to be at a low of $35 and a high of $50.

Nuvei Corporation (NVEI) estimates and forecasts

Nuvei Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 124.29 percent over the past six months and at a 23.67% annual growth rate that is well above the industry average of 12.60%. The year-over-year growth rate is expected to be 14.90%, up from the previous year.

Consensus estimates provided by 14 financial analysts predict the company will bring in an average of $325.39 million in revenue for the current quarter. 13 analysts expect Nuvei Corporation to make $331.58 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $256.5 million and $307.03 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 26.90%. Forecasts for the next quarter put sales growth at 8.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 14.51%. Nuvei Corporation earnings are expected to increase by 20.21% in 2024, but the outlook is positive 16.50% per year for the next five years.

NVEI Dividends

Nuvei Corporation’s next quarterly earnings report is expected to be released around March 06 and March 11. The annual dividend yield of the stock is 0.90 percent and its annual dividend per share was 0.30. It is important to note, however, that the 0.90% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Nuvei Corporation (NASDAQ:NVEI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.28% of Nuvei Corporation shares, and 54.89% of them are in the hands of institutional investors. The stock currently has a share float of 55.05%. Nuvei Corporation stock is held by 227 institutions, with FMR, LLC being the largest institutional investor. By Jun 29, 2023, it held 11.43% of the shares, which is about 7.21 million shares worth $213.07 million.

Wellington Management Group, LLP, with 10.70% or 6.75 million shares worth $199.55 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Fidelity Advisor Growth Opportunities Fund and Hartford Mid Cap Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 5.11 million shares worth $174.33 million, making up 8.10% of all outstanding shares. On the other hand, Hartford Mid Cap Fund held roughly 2.85 million shares worth around $97.33 million, which represents about 4.52% of the total shares outstanding.