KeyCorp Cuts i3 Verticals (NASDAQ:IIIV) Price Target to $20.00

Key Points

• KeyCorp lowered its price target for i3 Verticals from $27 to $20 while maintaining an “overweight” rating, implying 14.48% potential upside from the stock’s $17.47 price.
• Analyst sentiment remains mixed but leans positive: Benchmark downgraded the stock to “hold,” while other firms cut targets; the consensus rating is “Moderate Buy” with a $28.17 target.
• i3 Verticals slightly exceeded quarterly earnings expectations, reporting $0.32 in EPS versus $0.30 expected and $57.52 million in revenue. CEO Gregory S. Daily also purchased 50,000 shares at an average price of $19.23.

i3 Verticals (NASDAQ:IIIV - Get Free Report) had its price objective cut by KeyCorp from $27.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price target points to a potential upside of 14.48% from the company's current price.

Several other research firms have also commented on IIIV. Benchmark lowered shares of i3 Verticals from a "buy" rating to a "hold" rating in a report on Monday. Weiss Ratings upgraded i3 Verticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, May 12th. Cantor Fitzgerald cut their target price on i3 Verticals from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Finally, DA Davidson dropped their price objective on shares of i3 Verticals from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.17.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $17.47 on Monday. The stock has a market capitalization of $487.94 million, a price-to-earnings ratio of 45.97 and a beta of 0.83. i3 Verticals has a one year low of $17.03 and a one year high of $33.97. The company's 50-day simple moving average is $20.63 and its 200-day simple moving average is $21.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.34 and a current ratio of 1.34.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. The company had revenue of $57.52 million for the quarter, compared to the consensus estimate of $57.51 million. i3 Verticals had a return on equity of 4.30% and a net margin of 4.24%. Equities analysts anticipate that i3 Verticals will post 0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregory S. Daily bought 50,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $19.23 per share, with a total value of $961,500.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $961,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 60.09% of the stock is owned by corporate insiders.

Institutional Trading of i3 Verticals

A number of large investors have recently added to or reduced their stakes in IIIV. Fifth Third Bancorp acquired a new stake in shares of i3 Verticals during the 1st quarter valued at $28,000. Caitong International Asset Management Co. Ltd raised its holdings in i3 Verticals by 1,299.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,371 shares of the company's stock worth $35,000 after buying an additional 1,273 shares during the period. CWM LLC boosted its holdings in shares of i3 Verticals by 221.7% in the fourth quarter. CWM LLC now owns 1,393 shares of the company's stock worth $35,000 after buying an additional 960 shares during the period. Global Retirement Partners LLC raised its holdings in shares of i3 Verticals by 8,259.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,839 shares of the company's stock valued at $46,000 after acquiring an additional 1,817 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of i3 Verticals by 65.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock valued at $60,000 after acquiring an additional 870 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.

About i3 Verticals

i3 Verticals, Inc is a provider of integrated software and merchant payment processing solutions tailored for specific vertical markets across the United States. Since its founding in 2001 and headquartered in Columbia, South Carolina, the company has focused on delivering SaaS-based applications and payment services to streamline revenue collection and management workflows for its clients.

The company's product portfolio includes electronic payment processing for credit and debit card transactions, automated clearing house (ACH) transfers, online and mobile payment portals, and related risk management and compliance tools.

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