EVO Payments (EVOP) Sets New 1-Year High on Analyst Upgrade

EVO Payments Inc (NASDAQ:EVOP)’s share price hit a new 52-week high on Thursday after SunTrust Banks raised their price target on the stock to $32.00. SunTrust Banks currently has a buy rating on the stock. EVO Payments traded as high as $30.45 and last traded at $28.20, with a volume of 35050 shares changing hands. The stock had previously closed at $27.27.

Several other equities analysts have also weighed in on the stock. Citigroup dropped their price objective on shares of EVO Payments from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, August 9th. Buckingham Research started coverage on shares of EVO Payments in a report on Wednesday, August 29th. They set a “neutral” rating and a $24.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.38.

Large investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of EVO Payments during the third quarter worth about $112,000. Frontier Capital Management Co. LLC bought a new stake in shares of EVO Payments during the second quarter worth about $150,000. California Public Employees Retirement System bought a new stake in shares of EVO Payments during the second quarter worth about $206,000. Chicago Capital LLC bought a new stake in shares of EVO Payments during the third quarter worth about $239,000. Finally, American International Group Inc. bought a new stake in shares of EVO Payments during the third quarter worth about $258,000. 21.58% of the stock is owned by institutional investors.

EVO Payments (NASDAQ:EVOP) last posted its earnings results on Wednesday, November 7th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.08). The firm had revenue of $144.76 million for the quarter, compared to the consensus estimate of $142.24 million. As a group, equities analysts forecast that EVO Payments Inc will post 0.51 EPS for the current year.

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About EVO Payments (NASDAQ:EVOP)

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 525,000 merchants. The company processes approximately 900 million transactions in North America and approximately 1.7 billion transactions in Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.

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