i3 Verticals (NASDAQ:IIIV) Upgraded at BTIG Research

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BTIG Research upgraded shares of i3 Verticals (NASDAQ:IIIV) from a neutral rating to a buy rating in a research report report published on Monday, BenzingaRatingsTable reports. They currently have $22.00 target price on the stock.

Several other analysts have also recently commented on IIIV. TheStreet cut shares of i3 Verticals from a c- rating to a d+ rating in a research note on Friday, March 6th. KeyCorp lowered their target price on shares of i3 Verticals from $38.00 to $18.00 and set an overweight rating for the company in a research note on Monday. BidaskClub cut shares of i3 Verticals from a buy rating to a hold rating in a research note on Saturday, March 7th. ValuEngine raised shares of i3 Verticals from a hold rating to a buy rating in a research note on Friday, March 20th. Finally, Zacks Investment Research cut shares of i3 Verticals from a buy rating to a strong sell rating in a research note on Saturday, February 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $26.80.

IIIV stock opened at $18.90 on Monday. The stock has a market capitalization of $398.20 million, a P/E ratio of -59.06 and a beta of 0.73. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.55 and a current ratio of 0.55. i3 Verticals has a one year low of $13.01 and a one year high of $37.85. The company has a 50 day moving average price of $26.99 and a two-hundred day moving average price of $25.55.

i3 Verticals (NASDAQ:IIIV) last released its earnings results on Monday, February 10th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The firm had revenue of $41.10 million during the quarter, compared to analysts’ expectations of $39.05 million. i3 Verticals had a negative net margin of 1.01% and a positive return on equity of 13.75%. i3 Verticals’s revenue was down 51.6% compared to the same quarter last year. Research analysts forecast that i3 Verticals will post 0.72 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of i3 Verticals by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 188,132 shares of the company’s stock valued at $5,314,000 after buying an additional 12,258 shares during the period. Endeavour Capital Advisors Inc. grew its stake in shares of i3 Verticals by 11.4% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 189,756 shares of the company’s stock valued at $5,361,000 after buying an additional 19,422 shares during the period. Bank of America Corp DE grew its stake in shares of i3 Verticals by 36.1% during the 4th quarter. Bank of America Corp DE now owns 11,770 shares of the company’s stock valued at $332,000 after buying an additional 3,123 shares during the period. Bank of New York Mellon Corp grew its stake in shares of i3 Verticals by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 199,630 shares of the company’s stock valued at $5,640,000 after buying an additional 6,216 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of i3 Verticals by 1.6% during the 4th quarter. Lord Abbett & CO. LLC now owns 355,930 shares of the company’s stock valued at $10,055,000 after buying an additional 5,776 shares during the period. 48.35% of the stock is owned by institutional investors.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.

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