Evertec (EVTC) stock is soaring 5.46% in pre-market trading on Thursday following the company's impressive first-quarter results and increased full-year guidance. The payment processing and technology company has surpassed analyst expectations, prompting several firms to raise their price targets.
Evertec reported Q1 adjusted earnings of $0.87 per diluted share, significantly higher than the $0.72 reported in the same quarter last year and beating analyst estimates of $0.80. The company's revenue for the quarter ended March 31 reached $228.8 million, up from $205.3 million a year earlier and surpassing the analyst consensus of $218 million.
In response to the strong performance, Evertec raised its full-year guidance. The company now expects 2025 adjusted EPS of $3.44 to $3.53, up from its previous forecast of $3.34 to $3.35. Additionally, Evertec anticipates full-year constant currency revenue between $903 million and $911 million, an increase from the earlier projection of $889 million to $899 million. The revised outlook has impressed investors and analysts alike, contributing to the stock's pre-market surge. Following the earnings report, several financial firms, including Susquehanna, KBW, and Raymond James, have raised their price targets for Evertec stock, further boosting investor confidence in the company's growth prospects.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.