Shares of financial technology solutions provider Nuvei Corp. (NASDAQ:NVEI) are trending lower today after investors were unimpressed with its first-quarter numbers and financial outlook.
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Revenue rose 19.6% year-over-year to $256.5 million, managing to land past estimates by $3.6 million. EPS at $0.44 came in line with expectations.
During the quarter, total volume increased by 45% to $42.4 billion. Further, while revenue from the North American region grew by over 50%, other regions including Europe, the Middle East and Africa, and Asia Pacific saw a decline.
Looking ahead, for the full year 2023, revenue is anticipated between $1,225 million and $1,264 million alongside an adjusted EBITDA in the range of $456 million and $477 million. The company had earlier guided for a top line between $1.22 billion and $1.26 billion alongside adjusted EBITDA between $455 million and $477 million.
Overall, the Street has a $50.91 consensus price target on Nuvei pointing to a 41.2% potential upside in the stock.
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