Priority Technology (NASDAQ:PRTH) Announces Earnings Results

Priority Technology (NASDAQ:PRTH) issued its earnings results on Thursday. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05, Zacks reports. The business had revenue of $268.62 million during the quarter, compared to analysts’ expectations of $259.50 million. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%.

Priority Technology Price Performance

Shares of PRTH traded up $0.01 during trading hours on Friday, hitting $7.88. 727,988 shares of the stock were exchanged, compared to its average volume of 561,650. Priority Technology has a fifty-two week low of $4.44 and a fifty-two week high of $7.94. The business has a 50-day moving average of $7.17 and a 200-day moving average of $6.14. The firm has a market capitalization of $649.63 million, a P/E ratio of 16.08 and a beta of 1.74.

Wall Street Analysts Forecast Growth

PRTH has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their price target on shares of Priority Technology from $6.50 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, September 22nd. Lake Street Capital lowered shares of Priority Technology from a “buy” rating to a “hold” rating and cut their price target for the stock from $13.00 to $8.05 in a report on Monday, September 21st. Alliance Global Partners cut shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research note on Thursday, August 6th. B. Riley Financial cut shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $8.05 price objective on the stock. in a research note on Friday, October 2nd. Finally, Zacks Research downgraded Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Priority Technology has an average rating of “Hold” and a consensus target price of $8.18.

About Priority Technology

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides payment processing and commerce solutions to businesses, software providers and financial institutions. Its platform supports card and electronic payment acceptance across in-person, online and mobile channels, as well as related payment and reporting functions.

The company offers integrated payments and embedded payment capabilities that can be incorporated into business-management and vertical-market software.