Priority Technology (NASDAQ:PRTH) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Priority Technology (NASDAQ:PRTH) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Other analysts also recently issued research reports about the company. Alliance Global Partners downgraded Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Thursday. Keefe, Bruyette & Woods lowered their price objective on Priority Technology from $7.50 to $6.50 and set a “market perform” rating for the company in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a report on Wednesday, June 24th. Finally, Zacks Research cut Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.50.

Priority Technology Price Performance

Shares of NASDAQ PRTH opened at $5.39 on Friday. Priority Technology has a 1 year low of $4.44 and a 1 year high of $8.59. The firm has a 50-day moving average of $6.62 and a 200 day moving average of $5.84. The stock has a market cap of $444.35 million, a P/E ratio of 7.81 and a beta of 1.57.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Priority Technology had a net margin of 5.61% and a negative return on equity of 104.91%. The business had revenue of $262.26 million for the quarter, compared to analysts’ expectations of $257.81 million. Research analysts expect that Priority Technology will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds have recently modified their holdings of PRTH. FourWorld Capital Management LLC increased its position in shares of Priority Technology by 330.0% during the 1st quarter. FourWorld Capital Management LLC now owns 1,583,904 shares of the company’s stock valued at $7,476,000 after purchasing an additional 1,215,583 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Priority Technology in the fourth quarter worth $584,000. Norwood Investment Partners LP purchased a new position in Priority Technology during the fourth quarter worth $3,433,000. Potomac Capital Management Inc. bought a new position in Priority Technology during the fourth quarter valued at $539,000. Finally, Militia Capital Management LLC bought a new position in Priority Technology during the first quarter valued at $99,000. 11.52% of the stock is currently owned by institutional investors.

More Priority Technology News

Here are the key news stories impacting Priority Technology this week:

• Positive Sentiment: Priority Technology reported second-quarter earnings of $0.29 per share, above analyst estimates of $0.26-$0.28, while revenue rose 9% year over year to approximately $262.3 million, exceeding expectations. Priority Technology Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The Payables segment led growth, supported by higher buyer-funded revenue. Management indicated full-year revenue is tracking near the high end of its guidance range, suggesting continued demand for the company’s connected-commerce platform. Buyer-Funded Revenue Powers Priority Technology Holdings’ Payables Surge
• Neutral Sentiment: Keefe, Bruyette & Woods lowered its price target from $7.50 to $6.50 and assigned a “market perform” rating. Although the target implies upside from recent trading levels, the reduced target signals more limited expectations.
• Negative Sentiment: Management’s earnings-call commentary highlighted margin pressure from business-mix shifts and rising costs. Consequently, full-year profit expectations are trending toward the low end of guidance despite revenue holding near the high end. PRTH Q2 Earnings Call Flags Margin Pressure as Growth Holds
• Negative Sentiment: Alliance Global Partners downgraded PRTH from “buy” to “neutral” and set a $7.00 target. The downgrade, together with KBW’s target reduction, likely weighs on sentiment by emphasizing profitability and execution risks.

Priority Technology Company Profile

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.