Brokerages Set i3 Verticals, Inc. (NASDAQ:IIIV) Price Target at $27.14

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $27.14.

Several research analysts have commented on IIIV shares. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of i3 Verticals in a report on Monday, September 30th. Benchmark restated a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a report on Tuesday, September 3rd. Raymond James lowered their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, August 12th. Stephens reissued an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a research note on Friday, August 16th. Finally, BMO Capital Markets lowered their target price on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd.

Institutional Investors Weigh In On i3 Verticals

Large investors have recently made changes to their positions in the company. Geneva Capital Management LLC lifted its stake in i3 Verticals by 1.7% in the first quarter. Geneva Capital Management LLC now owns 1,919,097 shares of the company’s stock valued at $43,928,000 after acquiring an additional 31,271 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of i3 Verticals by 6.3% in the 2nd quarter. Hood River Capital Management LLC now owns 1,190,184 shares of the company’s stock valued at $26,279,000 after purchasing an additional 70,253 shares during the last quarter. Heartland Advisors Inc. lifted its stake in shares of i3 Verticals by 10.9% in the 1st quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock valued at $13,729,000 after purchasing an additional 59,050 shares during the last quarter. Long Path Partners LP bought a new stake in i3 Verticals in the second quarter worth $12,756,000. Finally, Dimensional Fund Advisors LP increased its position in i3 Verticals by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 484,494 shares of the company’s stock worth $10,698,000 after buying an additional 13,880 shares during the last quarter. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $22.86 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. The stock’s 50 day moving average price is $22.05 and its 200 day moving average price is $21.79. i3 Verticals has a 12 month low of $17.54 and a 12 month high of $25.51. The stock has a market cap of $772.44 million, a price-to-earnings ratio of -254.00 and a beta of 1.54.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. The company had revenue of $56.04 million during the quarter, compared to analyst estimates of $96.43 million. Equities research analysts anticipate that i3 Verticals will post 0.37 earnings per share for the current fiscal year.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.