Nuvei Corporation [NASDAQ: NVEI] stock went on an upward path that rose over 2.50% on Monday, amounting to a one-week price increase of more than 11.26%. The company report on April 1, 2024 at 5:26 PM that Early Warning Press Release – Nuvei enters into agreement to be taken private.
This press release is being disseminated as required by Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“Regulation 62-103”) by CDPQ in respect of its ownership position in Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI).
Nuvei today announced that it has entered into a definitive arrangement agreement to be taken private by Advent International, with the support of each of the Company’s holders of multiple voting shares (“Multiple Voting Shares”), being Philip Fayer, certain investment funds managed by Novacap Management Inc. (collectively, “Novacap”) and CDPQ, via an all-cash transaction which values Nuvei at an enterprise value of approximately US$6.3 billion (the “Transaction”).
Over the last 12 months, NVEI stock dropped by -23.09%. The one-year Nuvei Corporation stock forecast points to a potential upside of 1.7. The average equity rating for NVEI stock is currently 2.13, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.52 billion, with 63.36 million shares outstanding and 63.20 million shares in the current float. Compared to the average trading volume of 645.41K shares, NVEI stock reached a trading volume of 9799407 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Nuvei Corporation [NVEI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVEI shares is $32.97 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVEI stock is a recommendation set at 2.13. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Nuvei Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 17, 2024. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on December 20, 2023, representing the official price target for Nuvei Corporation stock. Previously, the target price had yet another raise to $30, while BMO Capital Markets analysts kept a Outperform rating on NVEI stock.
The Average True Range (ATR) for Nuvei Corporation is set at 1.59, with the Price to Sales ratio for NVEI stock in the period of the last 12 months amounting to 3.80. The Price to Book ratio for the last quarter was 2.23, with the Price to Cash per share for the same quarter was set at 1.22. Price to Free Cash Flow for NVEI in the course of the last twelve months was 18.06 with Quick ratio for the last quarter at 1.05.
NVEI Stock Performance Analysis:
Nuvei Corporation [NVEI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.26. With this latest performance, NVEI shares gained by 22.58% in over the last four-week period, additionally plugging by 117.81% over the last 6 months – not to mention a drop of -23.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVEI stock in for the last two-week period is set at 73.47, with the RSI for the last a single of trading hit 80.21, and the three-weeks RSI is set at 69.06 for Nuvei Corporation [NVEI]. The present Moving Average for the last 50 days of trading for this stock 25.69, while it was recorded at 31.00 for the last single week of trading, and 22.92 for the last 200 days.
Insight into Nuvei Corporation Fundamentals:
Nuvei Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.05 and a Current Ratio set at 1.05.
NVEI Stock EPS
With the latest financial reports released by the company, Nuvei Corporation posted 0.44/share EPS, while the average EPS was predicted by analysts to be reported at 0.44/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVEI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nuvei Corporation go to 16.50%.
Nuvei Corporation [NVEI] Institutonal Ownership Details
The top three institutional holders of NVEI stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NVEI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NVEI stock with ownership which is approximately 5.8386%.
