Long Position on EVOP @ $29.20 on 5/30/2019 (Momentum)

EVO Payments, Inc. (EVOP) operates as an integrated merchant acquirer and payment processor servicing approximately 550,000 merchants.

The company processes approximately 950 million transactions in North America and approximately 2.1 billion transactions in Europe.

Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.

The company also offers processing capabilities for specific industries and provides merchants with recurring billing, multi-currency authorization and settlement, and cross-border processing. In addition, it provides other services that enable through technical integrations with third-party providers.

On May 2nd, the company reported 1st Quarter March 2019 earnings of $0.08 per share on revenue of $111.5 million. The consensus earnings estimate was $0.04 per share on revenue of $134.2 million.

The company said it expects 2019 revenue of $601.0 million to $610.0 million. The current consensus estimate is revenue of $606.7 million for the year ending December 31, 2019. On the news, shares have formed a bullish cup and handle and are expected to move higher from this formation. 

Entry Point: $29.20

Stop Loss: $27.50

Trading Range: $19.42 to $30.93

Target Price: $32.15

Updates

6/28/2019 1:43:52 PM

EVOP closed at $31.30

Position closed on 6/28/2019 at price of $31.30 with a 7.19% gain in 29 days.

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