LEAWOOD, KS— Euronet Worldwide , Inc. (NASDAQ:EEFT) saw significant insider activity as Martin L. Bruckner, the company's Senior Vice President and Chief Technology Officer, executed a series of stock transactions on November 25, 2024. Bruckner sold a total of 9,397 shares of Euronet's common stock, generating proceeds of approximately $1,008,383. The shares were sold at prices ranging from $107.28 to $107.67.
In addition to the sales, Bruckner also exercised stock options, acquiring 9,397 shares at a price of $56.24 per share. Following these transactions, Bruckner holds 39,983 shares directly in the company.
These transactions were reported in a filing to the Securities and Exchange Commission on November 27, 2024.
In other recent news, Euronet Worldwide reported a robust third-quarter performance with record revenues of $1.1 billion, marking an 11% year-over-year increase in adjusted earnings per share (EPS). The company's leadership anticipates a full-year adjusted EPS growth of 10% to 15%, with a year-to-date increase of 17% already realized. These are recent developments that emphasize the company's focus on digital expansion and strategic partnerships.
In a separate development, Oppenheimer has upgraded Euronet's price target to $135 from the previous $121, maintaining an 'Outperform' rating on the stock. The firm's analysis suggests a 31% upside potential for Euronet's stock, largely based on the company's three business segments. This new price target is bolstered by an expected increase in the earnings per share (EPS) multiple to 12 times for the year 2026, up from 11 times.
Oppenheimer's positive outlook is grounded in several factors, including the recovery of European travel, expansion of ATM networks in new markets, and growth in Money Transfer agent locations. The firm also highlighted that Euronet's diversification strategy is likely to provide resilience against the digitization of cash transactions. Euronet's investment in the REN payments platform, Dandelion cross-border payments, and merchant acquiring are expected to contribute to its long-term stability and continued revenue growth.
InvestingPro Insights
To provide additional context to Martin L. Bruckner's recent stock transactions, it's worth examining some key financial metrics and insights from InvestingPro for Euronet Worldwide, Inc. (NASDAQ:EEFT).
As of the latest data, Euronet boasts a market capitalization of $4.65 billion, with a price-to-earnings (P/E) ratio of 14.53. This relatively low P/E ratio, especially when compared to the company's near-term earnings growth potential, suggests that the stock may be undervalued. In fact, an InvestingPro Tip highlights that EEFT is trading at a low P/E ratio relative to its expected earnings growth.
The company's revenue for the last twelve months as of Q3 2023 stood at $3.9 billion, with a healthy revenue growth of 8.46% over the same period. This growth trajectory is further supported by the company's quarterly revenue growth of 9.49% in Q3 2023, indicating consistent expansion.
Euronet's profitability is also noteworthy. With a gross profit margin of 38.92% and an operating income margin of 12.25% for the last twelve months, the company demonstrates solid financial performance. An InvestingPro Tip confirms that Euronet has been profitable over the last twelve months, which aligns with the insider's decision to exercise options and realize gains.
It's interesting to note that management has been aggressively buying back shares, according to another InvestingPro Tip. This could be seen as a sign of confidence in the company's future prospects and may help explain why insiders like Bruckner are making strategic moves with their stock holdings.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 6 more InvestingPro Tips available for Euronet Worldwide, which could provide valuable perspective on the company's financial health and future outlook.
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