Euronet Worldwide (EEFT) Selloff is Overdone - Piper Jaffray

Piper Jaffray analyst Jason Deleeuw reiterated an Overweight rating and $180.00 price target on Euronet Worldwide (NASDAQ: EEFT) after EEFT’s shares dropped -12% in the wake of softer Money Transfer growth due to WMT requiring the same ID checks the regulators imposed on MGI.

The analyst believes the share sell-off is overdone and provides an attractive entry point stating "The WMT ID checks will be a headwind until they are lapped in the 1Q20, but EEFT’s digital payments platform is driving many new growth opportunities across EFT, epay and Money Transfer. We believe EFT’s ATM expansion into Southeast Asia next year could be a massive long-term growth opportunity and upcoming catalyst for the stock".

For an analyst ratings summary and ratings history on Euronet Worldwide click here. For more ratings news on Euronet Worldwide click here.

Shares of Euronet Worldwide closed at $147.01 yesterday.

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