These Analysts Revise Their Forecasts On Nuvei Following Q4 Results
Portfolio Pulse from Avi Kapoor
Nuvei Corporation (NASDAQ:NVEI) reported Q4 earnings surpassing estimates with adjusted earnings of 47 cents per share and sales of $321.52 million. Total volume increased by 53%, while adjusted EBITDA margin decreased. The company forecasts Q1 revenue between $322 million and $330 million, and 2024 revenue between $1.34 billion and $1.38 billion. Following the report, Nuvei's shares dropped by 9.8%. Analysts from RBC Capital, Wells Fargo, and Canaccord Genuity adjusted their price targets on Nuvei.
March 07, 2024 | 12:28 pm
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Nuvei Corporation reported higher than expected Q4 earnings and sales, with a significant volume increase but a slight EBITDA margin decrease. The company provided positive revenue forecasts for Q1 and 2024, yet shares fell by 9.8%. Analysts have adjusted their price targets.
Despite reporting strong Q4 earnings and sales, and providing positive revenue forecasts, Nuvei's stock price fell significantly. This drop could be due to market reactions to the adjusted EBITDA margin or other external factors not detailed in the article. Analysts' adjustments in price targets reflect a mixed view on the stock's future performance, indicating uncertainty in the short term.
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IMPORTANCE 90
RELEVANCE 100