Several other equities research analysts have also issued reports on the stock. KeyCorp lifted their price target on shares of i3 Verticals from $26.00 to $28.00 and gave the company an overweight rating in a research note on Monday, August 12th. BTIG Research set a $31.00 price target on shares of i3 Verticals and gave the company a buy rating in a research note on Thursday, September 5th. Bank of America assumed coverage on shares of i3 Verticals in a research note on Tuesday, August 13th. They issued a neutral rating and a $23.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of i3 Verticals from a sell rating to a hold rating in a research note on Saturday, August 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $26.33.
Shares of NASDAQ IIIV traded up $0.29 during midday trading on Tuesday, reaching $20.30. 143,885 shares of the stock were exchanged, compared to its average volume of 187,774. The company has a market capitalization of $540.10 million, a price-to-earnings ratio of 36.25, a P/E/G ratio of 1.02 and a beta of 0.36. i3 Verticals has a 12 month low of $17.14 and a 12 month high of $31.44. The business has a 50-day simple moving average of $20.92 and a two-hundred day simple moving average of $24.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.71.
i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. i3 Verticals had a negative net margin of 0.36% and a positive return on equity of 14.53%. The business had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.02 million. During the same period in the previous year, the firm posted $0.14 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. Equities research analysts expect that i3 Verticals will post 0.68 earnings per share for the current fiscal year.
In related news, Director David K. Morgan purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $21.35 per share, for a total transaction of $42,700.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 56.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in i3 Verticals in the 2nd quarter valued at about $25,000. Marshall Wace LLP bought a new position in i3 Verticals in the 1st quarter valued at approximately $29,000. BNP Paribas Arbitrage SA lifted its stake in i3 Verticals by 4,273.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,968 shares of the company’s stock valued at $47,000 after purchasing an additional 1,923 shares during the last quarter. GSA Capital Partners LLP bought a new position in i3 Verticals in the 2nd quarter valued at approximately $216,000. Finally, Sheaff Brock Investment Advisors LLC bought a new position in i3 Verticals in the 2nd quarter valued at approximately $227,000. Institutional investors and hedge funds own 44.51% of the company’s stock.
About i3 Verticals
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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