Verra Mobility (NASDAQ:VRRM) Shares Gap Down – What’s Next?

Verra Mobility Corp (NASDAQ:VRRM) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.61, but opened at $4.79. Verra Mobility shares last traded at $4.9320, with a volume of 1,041,882 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VRRM. Northcoast Research reissued a “neutral” rating on shares of Verra Mobility in a research note on Wednesday, May 27th. CJS Securities downgraded Verra Mobility from a “market outperform” rating to a “market perform” rating and set a $10.00 price objective for the company. in a report on Wednesday, May 27th. UBS Group lowered Verra Mobility from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $4.00 in a research report on Thursday, May 28th. Zacks Research downgraded Verra Mobility from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, Weiss Ratings cut shares of Verra Mobility from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $6.50.

Verra Mobility Stock Performance

The stock has a 50 day moving average of $4.47 and a 200 day moving average of $12.00. The company has a quick ratio of 1.77, a current ratio of 1.89 and a debt-to-equity ratio of 3.76. The firm has a market cap of $761.81 million, a price-to-earnings ratio of 6.08 and a beta of 0.41.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Wednesday, August 5th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. Verra Mobility had a net margin of 13.38% and a return on equity of 55.59%. The firm had revenue of $263.59 million for the quarter, compared to analyst estimates of $254.81 million. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Verra Mobility

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Verra Mobility by 14.3% during the first quarter. Royal Bank of Canada now owns 148,464 shares of the company’s stock worth $3,342,000 after purchasing an additional 18,562 shares during the period. AQR Capital Management LLC lifted its holdings in Verra Mobility by 21.7% during the 1st quarter. AQR Capital Management LLC now owns 34,501 shares of the company’s stock worth $777,000 after buying an additional 6,153 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Verra Mobility by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,120 shares of the company’s stock valued at $2,209,000 after buying an additional 4,302 shares during the last quarter. Millennium Management LLC raised its position in shares of Verra Mobility by 208.0% during the first quarter. Millennium Management LLC now owns 375,421 shares of the company’s stock worth $8,451,000 after acquiring an additional 253,529 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Verra Mobility by 33.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,182,297 shares of the company’s stock valued at $26,614,000 after acquiring an additional 293,082 shares during the last quarter.

Verra Mobility Company Profile

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.