Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Priority Technology Holdings, Inc. (NASDAQ:PRTH) has received a consensus "Buy" rating from six analysts, with an average 12-month price target of $13.00.
• The company reported an earnings per share (EPS) of $0.26 for the last quarter, exceeding expectations and generating revenue of $239.81 million.
• Insider trading activity showed that General Counsel Bradley J. Miller sold 100,000 shares for approximately $855,000, reducing his ownership by 29.10%.

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) have received an average recommendation of "Buy" from the six brokerages that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $13.00.

A number of analysts have recently weighed in on PRTH shares. Zacks Research upgraded shares of Priority Technology from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Cowen reiterated a "buy" rating on shares of Priority Technology in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Priority Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

Priority Technology Stock Performance

NASDAQ PRTH traded down $0.03 during trading hours on Friday, reaching $7.74. The stock had a trading volume of 46,758 shares, compared to its average volume of 571,189. The stock has a fifty day moving average of $7.67 and a 200 day moving average of $7.70. The stock has a market cap of $618.17 million, a P/E ratio of 29.75 and a beta of 1.64. Priority Technology has a 52-week low of $5.01 and a 52-week high of $12.47.

Priority Technology (NASDAQ:PRTH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.01. The firm had revenue of $239.81 million for the quarter, compared to analyst estimates of $239.63 million. Priority Technology had a net margin of 4.03% and a negative return on equity of 47.35%. Priority Technology has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Priority Technology will post -0.09 EPS for the current year.

Institutional Trading of Priority Technology

Several institutional investors have recently modified their holdings of the stock. Corebridge Financial Inc. grew its position in shares of Priority Technology by 19.0% in the first quarter. Corebridge Financial Inc. now owns 10,876 shares of the company's stock valued at $74,000 after purchasing an additional 1,733 shares during the period. Rhumbline Advisers boosted its position in Priority Technology by 10.2% during the first quarter. Rhumbline Advisers now owns 26,131 shares of the company's stock worth $178,000 after acquiring an additional 2,425 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Priority Technology by 25.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company's stock worth $89,000 after acquiring an additional 2,648 shares during the last quarter. Wells Fargo & Company MN boosted its position in Priority Technology by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock worth $101,000 after acquiring an additional 3,006 shares during the last quarter. Finally, Barclays PLC boosted its position in Priority Technology by 11.8% during the fourth quarter. Barclays PLC now owns 29,127 shares of the company's stock worth $342,000 after acquiring an additional 3,063 shares during the last quarter. Institutional investors and hedge funds own 11.52% of the company's stock.

Priority Technology Company Profile

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.