Priority Technology Holdings, Inc. (NASDAQ:PRTH) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Priority Technology Holdings, Inc. (NASDAQ:PRTH) received an average consensus recommendation of "Buy" from six covering brokerages, with a twelve-month price target set at $13.00.
• The company's latest quarterly earnings showed an earnings per share of $0.26, exceeding analysts' expectations and contributing to a positive outlook.
• Institutional investors have recently increased their stakes in Priority Technology, with notable purchases totaling around $29,000 to $60,000 from various firms.

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) have earned an average recommendation of "Buy" from the six brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.00.

PRTH has been the subject of a number of research reports. Zacks Research cut shares of Priority Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Wall Street Zen raised shares of Priority Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Priority Technology in a report on Friday, August 8th.

Priority Technology Price Performance

Shares of PRTH opened at $6.87 on Tuesday. Priority Technology has a 1-year low of $5.01 and a 1-year high of $12.47. The stock has a market cap of $549.05 million, a PE ratio of 26.42 and a beta of 1.64. The firm has a fifty day moving average price of $7.53 and a 200 day moving average price of $7.54.

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

Institutional Investors Weigh In On Priority Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Priority Technology in the second quarter valued at about $29,000. Deutsche Bank AG purchased a new position in Priority Technology during the fourth quarter worth about $60,000. AlphaQuest LLC purchased a new position in Priority Technology during the first quarter worth about $37,000. Strs Ohio purchased a new position in Priority Technology during the first quarter worth about $46,000. Finally, CWM LLC raised its holdings in Priority Technology by 13,386.7% during the first quarter. CWM LLC now owns 8,092 shares of the company's stock worth $55,000 after purchasing an additional 8,032 shares in the last quarter. 11.52% of the stock is owned by hedge funds and other institutional investors.

About Priority Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.