JPMorgan Chase & Co. Cuts Verra Mobility (NASDAQ:VRRM) Price Target to $24.00

Verra Mobility (NASDAQ:VRRM) had its price objective reduced by JPMorgan Chase & Co. from $25.00 to $24.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

VRRM has been the subject of a number of other reports. UBS Group upped their target price on Verra Mobility from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Verra Mobility in a research note on Monday, December 29th. Morgan Stanley cut their price objective on shares of Verra Mobility from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Verra Mobility currently has a consensus rating of “Hold” and an average price target of $24.75.

Verra Mobility Stock Performance

Shares of NASDAQ:VRRM opened at $16.71 on Wednesday. Verra Mobility has a 12-month low of $15.58 and a 12-month high of $25.83. The company’s 50 day moving average price is $20.53 and its two-hundred day moving average price is $22.49. The firm has a market cap of $2.67 billion, a PE ratio of 19.66, a PEG ratio of 2.70 and a beta of 0.59. The company has a quick ratio of 2.35, a current ratio of 2.10 and a debt-to-equity ratio of 3.49.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $257.86 million during the quarter, compared to analyst estimates of $241.17 million. Verra Mobility had a net margin of 13.95% and a return on equity of 57.45%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Verra Mobility has set its FY 2026 guidance at 1.320-1.380 EPS. Equities research analysts predict that Verra Mobility will post 1.08 earnings per share for the current year.

Hedge Funds Weigh In On Verra Mobility

A number of hedge funds have recently modified their holdings of VRRM. Norges Bank bought a new stake in shares of Verra Mobility in the fourth quarter worth $68,608,000. River Road Asset Management LLC grew its position in shares of Verra Mobility by 441.6% in the 4th quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company’s stock valued at $66,888,000 after buying an additional 2,433,610 shares during the last quarter. Morgan Stanley increased its stake in shares of Verra Mobility by 44.8% in the fourth quarter. Morgan Stanley now owns 4,194,005 shares of the company’s stock valued at $93,988,000 after buying an additional 1,296,602 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Verra Mobility by 71.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,924,781 shares of the company’s stock valued at $65,544,000 after buying an additional 1,222,116 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Verra Mobility by 60,338.2% during the second quarter. Bessemer Group Inc. now owns 1,130,799 shares of the company’s stock worth $28,711,000 after acquiring an additional 1,128,928 shares during the last quarter.

About Verra Mobility

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.