Nuvei Consensus Price Target Climbs $21 After Q2 Results Impress

On August 10, Nuvei Corporation (TSX: NVEI) reported its second quarter financial results. The company reported revenues of $178 million, which grew over 100% since last year. The company reported a gross profit of $145.1 million, also growing over 100%. The company had a gross margin of 81.4% The firm also posted a net income of $38 million and earnings per share of $0.26.

More than half of the 12 analysts covering the name raised their 12-month price targets on Nuvei, bringing the analyst consensus to $109.69, up from the prior $88.29 consensus price target. Out of the 12 analysts, 3 have strong buy ratings, 7 have buy ratings, and 2 analysts have hold ratings. The street high sits at $134.40 from Cowen and Company while the lowest target comes in at $84.

BMO Capital Markets was one of the firms to increase their price target. They increased their target to $109 from $72 and reiterated their market perform rating, saying that the company is growing revenue faster than expected.

BMO had a $0.36 earnings per share estimate and the consensus was $0.34, while revenue grew over 100% which was primarily driven by higher volumes and better take rates. They also say that the Nuvei updated guidance is extremely bullish, with them expecting $88-91 billion in volume, and $690-705 million in revenue.

Below you can see BMO’s updated third quarter, 2021, and 2022 estimates.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Nuvei Exceeds Q2 2021 Estimates With US$178.2 Million In Revenue

Nuvei Corporation (TSX: NVEI) announced this morning its Q2 2021 financial results, which saw the...

Tuesday, August 10, 2021, 09:45:00 AM

Galaxy Digital: BMO Gives Price Target Slight Positive Bump After Strong Q3 Results

On November 15th, Galaxy Digital Holdings Ltd. (TSX: GLXY) reported its third quarter financial results....

Thursday, November 25, 2021, 04:27:00 PM

Supreme Cannabis: Stifel-GMP Raises Price Target To $0.55 Following Q2 Results

Last week, The Supreme Cannabis Company (TSX: FIRE) announced its second quarter 2021 financial results....

Wednesday, February 17, 2021, 10:48:00 AM

Tyson Foods: BMO Lifts Price Target To $115 After Strong Q1 Results

On February 7th, Tyson Foods (NYSE: TSN) reported their fiscal first quarter results for the...

Thursday, February 10, 2022, 02:44:00 PM

Argonaut Gold: BMO Lowers Target To $3.25 After Facilitating Bought Deal Financing

On March 3rd, Argonaut Gold (TSX: AR) announced that it has closed a bought deal....

Sunday, March 13, 2022, 03:10:00 PM