Priority Technology (NASDAQ:PRTH) Announces Quarterly Earnings Results

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

Priority Technology Stock Up 0.1%

PRTH traded up $0.01 during trading on Friday, hitting $7.88. 727,988 shares of the company traded hands, compared to its average volume of 561,650. The firm has a market cap of $649.63 million, a P/E ratio of 7.06 and a beta of 1.74. The stock’s fifty day moving average is $7.17 and its 200 day moving average is $6.14. Priority Technology has a one year low of $4.44 and a one year high of $7.94.

Analyst Ratings Changes

A number of research firms recently issued reports on PRTH. Keefe, Bruyette & Woods lifted their price target on Priority Technology from $6.50 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, September 22nd. B. Riley Financial cut Priority Technology from a “buy” rating to a “neutral” rating and set a $8.05 price target for the company. in a research note on Friday, October 2nd. Weiss Ratings raised Priority Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Alliance Global Partners lowered shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Priority Technology from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Priority Technology presently has a consensus 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.