Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives $13.00 Average Price Target from Brokerages

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.00.

A number of equities analysts recently commented on the company. Cowen reiterated a “buy” rating on shares of Priority Technology in a research report on Friday, August 8th. Zacks Research lowered Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Priority Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Priority Technology during the second quarter worth $29,000. AlphaQuest LLC acquired a new stake in shares of Priority Technology during the 1st quarter worth about $37,000. Strs Ohio acquired a new stake in shares of Priority Technology during the 1st quarter worth about $46,000. CWM LLC raised its holdings in Priority Technology by 13,386.7% in the 1st quarter. CWM LLC now owns 8,092 shares of the company’s stock valued at $55,000 after buying an additional 8,032 shares during the period. Finally, US Bancorp DE acquired a new position in Priority Technology in the first quarter valued at about $58,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Trading Down 3.8%

PRTH opened at $7.43 on Friday. Priority Technology has a twelve month low of $5.01 and a twelve month high of $12.47. The firm has a market capitalization of $593.81 million, a PE ratio of 28.58 and a beta of 1.86. The firm’s 50-day moving average price is $7.51 and its 200 day moving average price is $7.53.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $239.81 million for the quarter, compared to analyst estimates of $239.63 million. Priority Technology had a net margin of 4.03% and a negative return on equity of 47.35%. Priority Technology has set its FY 2025 guidance at EPS. As a group, analysts predict that Priority Technology will post -0.09 earnings per share for the current fiscal year.

About Priority Technology

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.