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

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.00.

A number of equities analysts recently issued reports on PRTH shares. Zacks Research upgraded Priority Technology from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Cowen reiterated a “buy” rating on shares of Priority Technology in a research note on Friday, August 8th. Finally, Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th.

Priority Technology Price Performance

Shares of Priority Technology stock opened at $7.69 on Friday. The business’s fifty day moving average price is $7.67 and its two-hundred day moving average price is $7.72. The company has a market capitalization of $614.58 million, a P/E ratio of 29.58 and a beta of 1.64. Priority Technology has a 1-year low of $5.01 and a 1-year high of $12.47.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The firm had revenue of $239.81 million for the quarter, compared to the consensus estimate of $239.63 million. Priority Technology had a negative return on equity of 47.35% and a net margin of 4.03%. Priority Technology has set its FY 2025 guidance at EPS. On average, research analysts expect that Priority Technology will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at Priority Technology

In related news, General Counsel Bradley J. Miller sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $8.55, for a total transaction of $855,000.00. Following the transaction, the general counsel directly owned 243,620 shares in the company, valued at $2,082,951. The trade was a 29.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 66.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Priority Technology during the 2nd quarter worth $29,000. AlphaQuest LLC acquired a new position in shares of Priority Technology in the 1st quarter valued at $37,000. Strs Ohio acquired a new stake in Priority Technology during the 1st quarter worth $46,000. CWM LLC raised its stake in Priority Technology by 13,386.7% during the 1st quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $55,000 after buying an additional 8,032 shares during the period. Finally, US Bancorp DE acquired a new stake in Priority Technology during the 1st quarter worth $58,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Priority Technology Company Profile

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.