EVO Payments, Inc. (EVOP): This is a very interesting development

The stock of EVO Payments, Inc. (NASDAQ:EVOP) has been Downgraded to Neutral from Buy by BTIG Research in its latest research note that was published on July 01. Cantor Fitzgerald, analysts launched coverage of EVOP stock with a Neutral rating, according to their flash note to investors on May 30

EVO’s stock is covered by 11 analysts, with 1 of them rating the stock as Buy. It has been deemed to have strong buy by 2 of the analysts, 8 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 2 analysts. 2 of them rated it as strong buy with 8 of them recommended investors to Hold on to the stock. Meanwhile, 1 analyst(s) rated it as a sell. The above data shows that EVOP has an average analyst rating of 2.64.

EVO Payments, Inc., which has current market capitalization of above $2 Billion, published its last quarter earnings on June 30, 2019. The company was able to amass $149.99 million in revenue. This figure is $5.53 million more than what analysts had expected which was $144.45 million. During the first quarter of the year, EVO also recorded $0.16 earnings per share (EPS) which is $0.03 above the $0.13 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 18.69%.

EVOP declined by $-0.40 during the normal trading session on Tuesday and reaching a high of $28.99 during the day while it closed the day at $28.54. The EVO stock had a low trading volume of 1.80 million shares on that day, which is low compared to the average daily volume of 334.98M shares. EVOP has also lost 5.75% of its value over the past 7 days. However, the stock has surged by 0.85% in the 3 months of the year. Over the past six months meanwhile, it has gained 9.98% while it has added 15.69% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -10.62% from its 3 months high price. However, taking another look at EVOP will indicate that it is trading +5.98% away from its 90-day low. Looking at the bigger picture, the EVO Payments, Inc. stock has dropped by -10.62% from its 52-week high while it has surged by +42.7% from its 52-week low price.

EVO has around 252 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $914 Billion. The EVO stock is bringing in revenue of over 12 months, which is roughly 98 Billion. Despite all that, EVO Payments, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 8.00%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 23.36%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 6.35%. Over the past 20 days, EVO’s Stochastic %K stood at 15.22% while its Stochastic %D was revealed to be 27.13%.