Nikos Fountas, CEO of the EFT EMEA Division at Euronet Worldwide , Inc. (NASDAQ:EEFT), recently sold shares of the company totaling approximately $2.22 million, according to a regulatory filing. The $4.57 billion market cap company, which trades at an attractive P/E ratio of 14.3x, is currently rated as undervalued according to InvestingPro analysis. The transactions, which occurred on December 9, involved the sale of 21,479 shares at prices ranging from $103.13 to $103.94 per share. Following these sales, Fountas holds 52,370 shares directly.
Additionally, Fountas exercised options to acquire 21,479 shares at $56.24 per share before executing the sales. This activity is part of his ongoing management of his equity holdings in the company. Euronet Worldwide, headquartered in Leawood, Kansas, provides electronic financial transaction solutions.
In other recent news, Euronet Worldwide, a financial technology solutions and payments company, reported strong third-quarter results with record revenues of $1.1 billion and an 11% year-over-year increase in adjusted earnings per share (EPS). The company's leadership expressed confidence in achieving a full-year adjusted EPS growth of 10% to 15%. Euronet also announced the addition of Brad Sprong, a former KPMG partner, to its Board of Directors, expanding the board to 11 members. This strategic move is expected to strengthen the board's skill set and align with the company's commitment to board refreshment.
In an analysis by Oppenheimer, the price target for Euronet Worldwide was increased to $135, suggesting a 31% upside potential for Euronet's stock. The firm reiterated its Outperform rating, signaling confidence in Euronet's future performance.
In addition to these financial developments, Euronet is focusing on digital expansion and strategic partnerships, particularly in digital remittances and cross-border payments. The company has made significant investments in the REN payments platform, Dandelion cross-border payments, and merchant acquiring to ensure its long-term stability and continued revenue growth. These recent developments underscore Euronet's commitment to growth and its ability to adapt to the evolving financial landscape.
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