i3 Verticals (NASDAQ:IIIV) Releases FY 2024 Earnings Guidance

i3 Verticals (NASDAQ:IIIV - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.490-1.570 for the period, compared to the consensus estimate of 1.590. The company issued revenue guidance of $380.0 million-$394.0 million, compared to the consensus revenue estimate of $393.9 million.

i3 Verticals Price Performance

Shares of i3 Verticals stock traded down $2.12 during trading on Friday, hitting $20.05. The stock had a trading volume of 787,958 shares, compared to its average volume of 231,534. The business has a fifty day moving average of $22.50 and a two-hundred day moving average of $20.94. The firm has a market cap of $669.13 million, a P/E ratio of -284.71 and a beta of 1.56. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $25.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.50.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. The company had revenue of $91.99 million during the quarter, compared to analyst estimates of $92.92 million. On average, sell-side analysts expect that i3 Verticals will post 0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on IIIV. BMO Capital Markets dropped their price target on i3 Verticals from $24.00 to $23.00 and set a market perform rating on the stock in a report on Monday, February 12th. TheStreet upgraded i3 Verticals from a d+ rating to a c- rating in a research report on Monday, March 18th. KeyCorp boosted their price objective on i3 Verticals from $23.00 to $26.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Morgan Stanley reduced their price target on shares of i3 Verticals from $25.00 to $20.00 and set an equal weight rating for the company in a research report on Monday, February 12th. Finally, Benchmark reissued a buy rating and set a $28.00 target price on shares of i3 Verticals in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, i3 Verticals has an average rating of Moderate Buy and a consensus price target of $27.43.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.