Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock Has Average Price Target of $8.59 According to Brokerages

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been given an average recommendation of “Hold” by the eight brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.59.

Several equities analysts have recently issued reports on PRTH shares. Keefe, Bruyette & Woods upped their target price on Priority Technology from $6.50 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, September 22nd. Lake Street Capital lowered Priority Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $8.05 in a report on Monday, September 21st. Wall Street Zen cut Priority Technology from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Alliance Global Partners cut Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research report on Thursday, August 6th. Finally, Zacks Research downgraded Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th.

Priority Technology Price Performance

PRTH opened at $7.82 on Friday. Priority Technology has a 1 year low of $4.44 and a 1 year high of $7.87. The company has a market capitalization of $644.68 million, a price-to-earnings ratio of 6.97 and a beta of 1.58. The firm’s fifty day moving average price is $6.36 and its two-hundred day moving average price is $6.16.

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

Hedge Funds Weigh In On Priority Technology

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Priority Technology during the 2nd quarter worth $15,788,000. FourWorld Capital Management LLC increased its holdings in Priority Technology by 330.0% in the 1st quarter. FourWorld Capital Management LLC now owns 1,583,904 shares of the company’s stock worth $7,476,000 after acquiring an additional 1,215,583 shares during the last quarter. Steamboat Capital Partners LLC raised its stake in Priority Technology by 4.6% in the 2nd quarter. Steamboat Capital Partners LLC now owns 1,335,669 shares of the company’s stock valued at $8,909,000 after acquiring an additional 58,273 shares during the period. Norwood Investment Partners LP bought a new stake in Priority Technology in the 4th quarter valued at about $3,433,000. Finally, Dimensional Fund Advisors LP raised its stake in Priority Technology by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 437,139 shares of the company’s stock valued at $2,063,000 after acquiring an additional 40,282 shares during the period. Institutional investors own 11.52% of the company’s stock.

About Priority Technology

Priority Technology Holdings, Inc is a payments technology company that provides payment processing and merchant services to businesses, financial institutions and software providers. Its platform supports card, digital and alternative payment acceptance, transaction processing, merchant onboarding, reporting and related payment operations.

The company serves small and midsize businesses, enterprise merchants and software platforms through integrated and embedded payment solutions. Its offerings are designed to help organizations incorporate payments into business-management software and workflows, while also providing tools such as billing, invoicing, data reporting, risk management and access to business financing solutions.

Priority Technology was founded in 2005 and is headquartered in Alpharetta, Georgia.