Priority Technology (NASDAQ:PRTH) Releases Earnings Results

Priority Technology (NASDAQ:PRTH) posted its earnings results on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02), Zacks reports. Priority Technology had a negative return on equity of 55.76% and a net margin of 5.78%.The firm had revenue of $241.44 million for the quarter, compared to analysts’ expectations of $251.74 million. Priority Technology updated its FY 2025 guidance to EPS.

Priority Technology Trading Up 0.4%

PRTH stock traded up $0.02 during midday trading on Friday, hitting $4.87. 1,458,425 shares of the company’s stock were exchanged, compared to its average volume of 502,379. Priority Technology has a 1-year low of $4.44 and a 1-year high of $12.47. The stock has a market capitalization of $389.21 million, a PE ratio of 9.19 and a beta of 1.85. The business has a 50-day simple moving average of $7.20 and a two-hundred day simple moving average of $7.51.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Industrial Alliance Securities set a $11.00 price target on Priority Technology in a report on Thursday. Cowen reaffirmed a “buy” rating on shares of Priority Technology in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Priority Technology from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Zacks Research cut shares of Priority Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Priority Technology has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Hedge Funds Weigh In On Priority Technology

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in Priority Technology during the 1st quarter worth $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Priority Technology by 25.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after buying an additional 2,648 shares during the last quarter. NewEdge Advisors LLC increased its position in Priority Technology by 1,134.1% in the 1st quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock valued at $107,000 after acquiring an additional 14,482 shares during the period. Strs Ohio purchased a new stake in Priority Technology during the 1st quarter valued at approximately $46,000. Finally, Rhumbline Advisers lifted its position in Priority Technology by 10.2% during the 1st quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock worth $178,000 after acquiring an additional 2,425 shares during the period. 11.52% of the stock is currently owned by institutional investors and hedge funds.

About Priority Technology

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.