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Nuvei Corporation (NVEI) Stock Jumps 31.8%: Will It Continue to Soar?
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Nuvei Corporation (NVEI - Free Report) shares ended the last trading session 31.8% higher at $28.68. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13% loss over the past four weeks.
The surge in price could be attributed to speculation surrounding Nuvei's potential acquisition by Boston-based private equity firm Advent International. While the management has not confirmed any deal talks, reports suggest discussions are underway, prompting increased investor interest. Nuvei has reportedly established a special committee to assess various strategic alternatives, including "expressions of interest" from potential buyers.
Nuvei's proprietary technology platform enables global payment acceptance, payout options, and a range of banking and risk management services. Tailored for eCommerce, integrated payments and B2B markets, this platform gives Nuvei a competitive advantage and likely sparked acquisition interest.
This company is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of +6.8%. Revenues are expected to be $326.11 million, up 27.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Nuvei Corporation, the consensus EPS estimate for the quarter has been revised 3.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NVEI going forward to see if this recent jump can turn into more strength down the road.
Nuvei Corporation belongs to the Zacks Financial Transaction Services industry. Another stock from the same industry, Global Payments (GPN - Free Report) , closed the last trading session 0.5% higher at $130.55. Over the past month, GPN has returned -3.2%.
Global Payments' consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.57. Compared to the company's year-ago EPS, this represents a change of +7.1%. Global Payments currently boasts a Zacks Rank of #3 (Hold).
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Nuvei Corporation (NVEI) Stock Jumps 31.8%: Will It Continue to Soar?
Nuvei Corporation (NVEI - Free Report) shares ended the last trading session 31.8% higher at $28.68. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13% loss over the past four weeks.
The surge in price could be attributed to speculation surrounding Nuvei's potential acquisition by Boston-based private equity firm Advent International. While the management has not confirmed any deal talks, reports suggest discussions are underway, prompting increased investor interest. Nuvei has reportedly established a special committee to assess various strategic alternatives, including "expressions of interest" from potential buyers.
Nuvei's proprietary technology platform enables global payment acceptance, payout options, and a range of banking and risk management services. Tailored for eCommerce, integrated payments and B2B markets, this platform gives Nuvei a competitive advantage and likely sparked acquisition interest.
This company is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of +6.8%. Revenues are expected to be $326.11 million, up 27.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Nuvei Corporation, the consensus EPS estimate for the quarter has been revised 3.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NVEI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Nuvei Corporation belongs to the Zacks Financial Transaction Services industry. Another stock from the same industry, Global Payments (GPN - Free Report) , closed the last trading session 0.5% higher at $130.55. Over the past month, GPN has returned -3.2%.
Global Payments' consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.57. Compared to the company's year-ago EPS, this represents a change of +7.1%. Global Payments currently boasts a Zacks Rank of #3 (Hold).