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Euronet Worldwide (EEFT) Soars 5%: Is Further Upside Left in the Stock?

·2-min read

Euronet Worldwide (EEFT) shares rallied 5% in the last trading session to close at $102.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.8% loss over the past four weeks.

Euronet Worldwide's stock is gaining from the rise in digital transactions amid the ongoing recovery in the electronics payments space. The jump follows a massive industry-wide panic selling, which made financial services stocks attractive again. EEFT's ability to develop advanced technology for new products on both ATMs and POS terminals for optimizing and enriching the customer experience is working in the company’s favor.

This electronic payments and transactions processor is expected to post quarterly earnings of $1.64 per share in its upcoming report, which represents a year-over-year change of +209.4%. Revenues are expected to be $806.01 million, up 12.8% 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 Euronet Worldwide, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EEFT 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 >>>>

Euronet Worldwide is a member of the Zacks Financial - Miscellaneous Services industry. One other stock in the same industry, Virtu Financial (VIRT), finished the last trading session 1.3% higher at $23.07. VIRT has returned -12.4% over the past month.

For Virtu Financial , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.80. This represents a change of +27% from what the company reported a year ago. Virtu Financial currently has a Zacks Rank of #5 (Strong Sell).


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