Priority Technology Holdings, Inc. (NASDAQ:PRTH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.50.

PRTH has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $11.00 price objective on Priority Technology in a report on Thursday, November 6th. Wall Street Zen lowered Priority Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods lowered Priority Technology from a “moderate buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $6.00 in a research report on Tuesday, November 11th. Finally, Cowen reaffirmed a “buy” rating on shares of Priority Technology in a research note on Friday, August 8th.

Institutional Investors Weigh In On Priority Technology

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Priority Technology in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets lifted its holdings in Priority Technology by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $35,000 after acquiring an additional 1,863 shares in the last quarter. AlphaQuest LLC bought a new position in Priority Technology during the first quarter worth about $37,000. Strs Ohio acquired a new position in Priority Technology in the first quarter valued at about $46,000. Finally, CWM LLC increased its holdings in shares of Priority Technology by 13,386.7% in the first quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $55,000 after acquiring an additional 8,032 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Trading Down 4.1%

Priority Technology stock opened at $5.19 on Wednesday. The company has a market cap of $424.92 million, a PE ratio of 9.79 and a beta of 1.85. Priority Technology has a 1 year low of $4.44 and a 1 year high of $12.47. The company’s 50-day moving average is $6.85 and its two-hundred day moving average is $7.42.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Priority Technology had a negative return on equity of 60.29% and a net margin of 5.78%.The business had revenue of $241.44 million for the quarter, compared to the consensus estimate of $251.74 million. Priority Technology has set its FY 2025 guidance at EPS. Research analysts forecast that Priority Technology will post -0.09 EPS for the current year.

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.