5 Undervalued Canadian Stocks To Buy Now

Below we look at the top 5 Undervalued Canadian Stocks To Buy Now. For our methodology and a more comprehensive list of cheap Canadian equities, please see 11 Undervalued Canadian Stocks To Buy Now.

5. Nuvei Corporation (NASDAQ:NVEI)

Number of Hedge Fund Shareholders: 18

Analysts’ Consensus Upside: 90.3%

The number of funds long Nuvei Corporation (NASDAQ:NVEI) increased by 20% during the third quarter, with Steven Ng and Andrew Mitchell’s Ophir Asset Management and Ryan Tolkin’s Schonfeld Strategic Advisors being two of the funds to add NVEI to their 13F portfolios during the quarter.

Analysts are also bullish on the Montreal-based fintech company, which provides payment processing services for digital platforms and marketplaces, as their consensus price targets suggest 90% upside for the stock in the next year. Nuvei Corporation (NASDAQ:NVEI), which allows clients to make transactions in 150 currencies and nearly 600 alternative payment methods, has become a major player in the travel space, having formed partnerships with Virgin Atlantic, Air Transat, and Scott Dunn, among others.

Nuvei Corporation (NASDAQ:NVEI) reported a 38% surge in volume growth during Q3 on a constant currency basis, while growing revenue to $197 million for the quarter and adjusted EPS to $0.43, both of which beat estimates. The company expects to generate sales of between $820 million and $850 million for the 2022 fiscal year.