Analysts Set EVO Payments Inc (NASDAQ:EVOP) PT at $27.68

Shares of EVO Payments Inc (NASDAQ:EVOP) have earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $27.68.

EVOP has been the topic of several analyst reports. Northcoast Research initiated coverage on shares of EVO Payments in a research note on Friday, May 24th. They issued a “neutral” rating on the stock. ValuEngine lowered shares of EVO Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BTIG Research reiterated a “hold” rating on shares of EVO Payments in a research note on Thursday, August 8th. Zacks Investment Research cut shares of EVO Payments from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald began coverage on shares of EVO Payments in a report on Wednesday, May 29th. They set a “neutral” rating and a $30.05 target price for the company.

EVOP traded up $0.08 on Friday, hitting $28.99. 7,942 shares of the company’s stock were exchanged, compared to its average volume of 502,642. The firm has a market cap of $2.33 billion, a PE ratio of -19.52, a P/E/G ratio of 4.35 and a beta of 0.61. EVO Payments has a twelve month low of $21.56 and a twelve month high of $31.93. The stock has a fifty day moving average of $29.67 and a two-hundred day moving average of $28.58.

EVO Payments (NASDAQ:EVOP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. EVO Payments had a negative net margin of 6.85% and a negative return on equity of 4.80%. The firm had revenue of $122.52 million for the quarter, compared to analyst estimates of $141.10 million. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, equities analysts expect that EVO Payments will post 0.55 EPS for the current fiscal year.

In related news, EVP Michael L. Reidenbach sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $31.18, for a total transaction of $124,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Groot Steven J. De sold 10,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $30.08, for a total transaction of $303,808.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,999 shares of company stock worth $2,358,053. Company insiders own 61.16% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Chartwell Investment Partners LLC raised its position in shares of EVO Payments by 4.4% in the second quarter. Chartwell Investment Partners LLC now owns 111,670 shares of the company’s stock valued at $3,521,000 after purchasing an additional 4,740 shares during the period. Royal Bank of Canada increased its position in EVO Payments by 50.2% during the second quarter. Royal Bank of Canada now owns 661,436 shares of the company’s stock worth $20,855,000 after acquiring an additional 221,200 shares during the period. DF Dent & Co. Inc. increased its position in EVO Payments by 25.8% during the second quarter. DF Dent & Co. Inc. now owns 248,633 shares of the company’s stock worth $7,839,000 after acquiring an additional 51,055 shares during the period. Waddell & Reed Financial Inc. grew its stake in EVO Payments by 61.9% during the second quarter. Waddell & Reed Financial Inc. now owns 1,209,381 shares of the company’s stock worth $38,132,000 after buying an additional 462,523 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in EVO Payments during the second quarter worth about $5,660,000. 39.84% of the stock is owned by institutional investors and hedge funds.

EVO Payments Company Profile

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 550,000 merchants. The company processes approximately 950 million transactions in North America and approximately 2.1 billion transactions in Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.

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Analyst Recommendations for EVO Payments (NASDAQ:EVOP)

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