Verra Mobility (NASDAQ:VRRM) Price Target Cut to $5.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Verra Mobility’s price target from $6.00 to $5.00 while maintaining a neutral rating; the new target implies roughly 67.5% upside from the stock’s $2.98 price.
• Analyst sentiment remains cautious, with nine Hold ratings and one Sell rating; MarketBeat reports an average rating of “Reduce” and a consensus target price of $6.83.
• Verra Mobility’s latest quarterly results exceeded expectations, with adjusted EPS of $0.38 versus $0.33 estimated and revenue of $263.59 million, up 11.7% year over year.

Verra Mobility (NASDAQ:VRRM - Get Free Report) had its price objective decreased by JPMorgan Chase & Co. from $6.00 to $5.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 67.50% from the stock's current price.

A number of other research analysts have also commented on VRRM. Morgan Stanley set a $5.00 price target on Verra Mobility in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Verra Mobility in a report on Monday, September 14th. UBS Group increased their target price on shares of Verra Mobility from $4.00 to $6.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Finally, Zacks Research raised shares of Verra Mobility from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $6.83.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM traded up $0.07 during midday trading on Tuesday, hitting $2.98. 1,664,361 shares of the company's stock were exchanged, compared to its average volume of 4,500,403. Verra Mobility has a twelve month low of $2.77 and a twelve month high of $25.45. The firm has a market cap of $453.66 million, a P/E ratio of 11.48 and a beta of 0.42. The stock's 50 day moving average price is $3.93 and its 200-day moving average price is $7.25. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%. The firm had revenue of $263.59 million for the quarter, compared to the consensus estimate of $254.81 million. During the same quarter in the previous year, the business earned $0.34 EPS. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Verra Mobility will post 1.11 EPS for the current year.

Institutional Trading of Verra Mobility

Several institutional investors have recently modified their holdings of VRRM. Caitong International Asset Management Co. Ltd raised its position in Verra Mobility by 967.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,260 shares of the company's stock worth $28,000 after acquiring an additional 1,142 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Verra Mobility in the 1st quarter valued at about $71,000. HB Wealth Management LLC bought a new position in shares of Verra Mobility during the 2nd quarter valued at about $43,000. 180 Wealth Advisors LLC bought a new position in shares of Verra Mobility during the 1st quarter valued at about $145,000. Finally, Everhart Financial Group Inc. bought a new position in shares of Verra Mobility during the 3rd quarter valued at about $32,000.

About Verra Mobility

Verra Mobility Corporation NASDAQ: VRRM is a smart mobility technology company that provides solutions designed to make transportation safer, more efficient and easier to manage. Its customers include government agencies, commercial fleets, rental car companies and other organizations that oversee vehicles, roads and transportation programs.

The company's government solutions include automated traffic enforcement technologies and services, such as systems used to help administer red-light, speed, school-bus-stop-arm and other roadway safety programs.

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