Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock Has Consensus Target Price of $8.59

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.18.

PRTH has been the subject of several recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Priority Technology from $6.50 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, September 22nd. Wall Street Zen cut Priority Technology from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Alliance Global Partners cut Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Thursday, August 6th. Weiss Ratings upgraded Priority Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Lake Street Capital lowered Priority Technology from a “buy” rating to a “hold” rating and decreased their price objective for the company from $13.00 to $8.05 in a research note on Monday, September 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Priority Technology during the second quarter worth about $15,788,000. FourWorld Capital Management LLC raised its position in shares of Priority Technology by 330.0% in the first quarter. FourWorld Capital Management LLC now owns 1,583,904 shares of the company’s stock valued at $7,476,000 after buying an additional 1,215,583 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of Priority Technology in the third quarter valued at approximately $4,680,000. Norwood Investment Partners LP purchased a new position in shares of Priority Technology during the second quarter valued at approximately $3,615,140. Finally, Bank of America Corp DE purchased a new position in shares of Priority Technology during the second quarter valued at approximately $1,624,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Priority Technology Stock Performance

Priority Technology stock opened at $7.90 on Wednesday. The firm has a market capitalization of $652.30 million, a price-to-earnings ratio of 6.93 and a beta of 1.74. Priority Technology has a fifty-two week low of $4.57 and a fifty-two week high of $7.94. The stock’s fifty day moving average is $7.27 and its two-hundred day moving average is $6.16.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. Priority Technology had a negative return on equity of 126.19% and a net margin of 3.97%. The business had revenue of $268.62 million during the quarter, compared to the consensus estimate of $259.50 million. As a group, sell-side analysts forecast that Priority Technology will post 1.23 EPS for the current fiscal year.

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.