i3 Verticals, Inc. (NASDAQ:IIIV – Get Free Report) dropped 3.9% during trading on Friday after Morgan Stanley lowered their price target on the stock from $26.00 to $25.00. Morgan Stanley currently has an equal weight rating on the stock. i3 Verticals traded as low as $19.51 and last traded at $19.51. Approximately 50,293 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 139,736 shares. The stock had previously closed at $20.30.
Several other brokerages also recently commented on IIIV. KeyCorp dropped their price target on i3 Verticals from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday. Raymond James dropped their price target on i3 Verticals from $34.00 to $33.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 10th. Finally, Stephens restated an “overweight” rating and set a $32.00 price target on shares of i3 Verticals in a research note on Thursday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $29.83.
Institutional Inflows and Outflows
i3 Verticals Stock Performance
The stock has a market capitalization of $661.47 million, a price-to-earnings ratio of -165.33 and a beta of 1.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.24. The stock’s 50-day simple moving average is $20.21 and its 200 day simple moving average is $22.24.
About i3 Verticals
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare markets in the United States. It operates in two segments, Merchant Services, and Proprietary Software and Payments. The company offers payment processing services that enables clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks.
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