Priority Technology (NASDAQ:PRTH) Given New $8.00 Price Target at Keefe, Bruyette & Woods

Priority Technology (NASDAQ:PRTH) had its price objective lifted by analysts at Keefe, Bruyette & Woods from $6.50 to $8.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 2.50% from the company’s current price.

A number of other research firms also recently weighed in on PRTH. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Wednesday, June 24th. Alliance Global Partners cut Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Thursday, August 6th. Wall Street Zen lowered Priority Technology from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Lake Street Capital cut shares of Priority Technology from a “buy” rating to a “hold” rating and reduced their price target for the company from $13.00 to $8.05 in a research report on Monday. Finally, Zacks Research cut shares of Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.67.

Priority Technology Price Performance

Shares of NASDAQ:PRTH traded up $0.01 during trading on Tuesday, reaching $7.80. The company had a trading volume of 2,019,316 shares, compared to its average volume of 476,103. The stock’s fifty day moving average price is $5.96 and its 200 day moving average price is $5.84. Priority Technology has a fifty-two week low of $4.44 and a fifty-two week high of $7.91. The firm has a market capitalization of $643.44 million, a price-to-earnings ratio of 11.31 and a beta of 1.55.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%.The company had revenue of $262.26 million during the quarter, compared to analyst estimates of $257.81 million. On average, equities analysts anticipate that Priority Technology will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Priority Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new position in Priority Technology during the 2nd quarter valued at approximately $67,000. The Manufacturers Life Insurance Company bought a new position in shares of Priority Technology during the 2nd quarter worth about $69,000. Aaron Wealth Advisors LLC bought a new stake in shares of Priority Technology in the first quarter worth about $50,000. One68 Global Capital LLC acquired a new position in Priority Technology during the second quarter worth $73,000. Finally, AXQ Capital LP acquired a new stake in shares of Priority Technology in the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Key Headlines Impacting Priority Technology

Here are the key news stories impacting Priority Technology this week:

• Positive Sentiment: The all-cash transaction values Priority at approximately $1.6 billion and provides public shareholders with $8.05 per share. The offer represents a relatively clear near-term valuation reference and is the primary reason the stock surged. Priority Technology take-private announcement
• Positive Sentiment: Priority’s board approved the CEO-led transaction, while the cash consideration offers shareholders a potential premium to the pre-announcement trading level. The stock’s temporary news-pending halt underscores the market significance of the announcement. Board backs go-private deal
• Neutral Sentiment: Lake Street downgraded PRTH from Buy to Hold and reduced its price target from $13.00 to $8.05, matching the proposed acquisition price. The change reflects limited upside beyond the offer rather than a new deterioration in operating performance. Lake Street downgrade
• Negative Sentiment: Shareholder-rights law firms, including Halper Sadeh, Ademi and Johnson Fistel, announced investigations into whether the $8.05 offer fairly values the company and whether the board adequately protected investors. These reviews could increase execution uncertainty or delay closing, although no wrongdoing has been established. Halper Sadeh investigation

Priority Technology Company Profile

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides commerce and payment-processing solutions to businesses, financial institutions and software providers. Its platform supports card payments, electronic payments and other transaction types, helping clients accept, manage and reconcile payments across in-person, online and business-to-business channels.

The company offers merchant acquiring and payment enablement services, including point-of-sale and e-commerce payment acceptance, payment gateway capabilities, automated clearing house (ACH) transactions, electronic invoicing and accounts-payable solutions.