Q: The results for Nuvei look like they have been well received. Does it look like short covering or the start of an upward trend?
May I have your comments on the results? Would you consider adding to a (losing) position in a TFSA? Or selling on this bump?
Thank you, JaneN
May I have your comments on the results? Would you consider adding to a (losing) position in a TFSA? Or selling on this bump?
Thank you, JaneN
5i Research Answer:
EPS of 39c missed estimates of 40c; revenue of $304.8M matched estimates. EBITDA of $110M beat estimates by 3%. Global commerce accelerated and increased 25% on a pro forma basis. Guidance was increased for revenue and EBITDA, but not by a huge amount. Investors have responded though as this was a 'good' quarter instead of a 'disaster' as the prior two were. Some of the move today is likely short covering. Results are encouraging, but one quarter does not make a trend. We would stay the course and not add, for now.