These Analysts Revise Their Forecasts On Nuvei Following Q4 Results

Nuvei Corporation NVEI reported upbeat earnings for its fourth quarter on Wednesday.

Nuvei posted adjusted earnings of 47 cents per share, beating market estimates of 45 cents per share. The company’s quarterly sales came in at $321.52 million versus expectations of $319.29 million, according to data from Benzinga Pro.

Total volume rose by 53% to $61.8 billion from $40.3 billion, while adjusted EBITDA margin fell to 37.3% from 38.9%.

Nuvei said it sees revenue of $322 million to $330 million for the first quarter. The company expects 2024 revenue of $1.34 billion to $1.38 billion.

Nuvei shares fell 9.8% to close at $22.79 on Wednesday.

These analysts made changes to their price targets on Nuvei after the company reported quarterly results.

• RBC Capital raised the price target on Nuvei from $29 to $34. RBC Capital analyst Paul Treiber maintained an Outperform rating.
• Wells Fargo slashed the price target on Nuvei from $29 to $27. Wells Fargo analyst Andrew Bauch maintained an Equal-Weight rating.
• Canaccord Genuity analyst Joseph Vafi reiterated Nuvei with a Buy and maintained a $40 price target.

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