Electronic payment processing company Nuvei Corporation (NASDAQ:NVEI) recently announced that it has integrated with a Web3 platform focused on blockchain applications, Flow, to enable smooth Non-Fungible Token (NFT) purchases and stablecoin processing on the blockchain.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Following the news, shares of the company gained marginally to close at $63 in Monday’s extended trading session.
Strategic Impact
With top Metaverse stocks gaining prevalence and momentum by the day, Nuvei’s move to integrate with Flow’s next-generation, environmentally-friendly blockchain coupled with its own innovative and agile processing will allow users to transact effectively in the Metaverse space.
Further, with this move, while Nuvei is expected to bolster its position as the foremost payment partner in the cryptocurrency and digital currency space, Flow stands to benefit from Nuvei’s fraud prevention and risk management tools.
CEO‘s Comments
The CEO of Nuvei, Philip Fayer, said, “We’re delighted to be integrated with Flow—it’s exciting to see that its network is increasingly becoming the blockchain of choice for NFT traders. Now, thanks to our new integration, this increasing number of NFT platforms can offer their customers the ability to purchase FUSD with fiat quickly and seamlessly.”
Price Target
Consensus among analysts is a Strong Buy based on 7 Buys and 1 Hold. The average Nuvei stock prediction of $133.65 implies upside potential of 113.6% from current levels. Shares have gained 22.7% over the past year.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Nuvei’s performance this quarter.
According to the tool, the Nuvei website recorded a 158.87% monthly rise in global visits in December, compared to the same period last year. Moreover, the website traffic has grown 73.16% year-to-date, compared to the previous year.
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Read full Disclaimer & Disclosure
Download the TipRanks mobile app now
Related News:
Take-Two to Acquire Zynga for $12.7B
Owens & Minor to Acquire Apria, Inc. for $1.6B; Shares Drop 7%
Moderna Booster Wait Time Reduced to 5 Months
