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

Key Points

• Analysts hold a consensus rating of "Hold" on Priority Technology (1 sell, 2 hold, 3 buy) with an average 1‑year target of $8.75, and recent notes show several target cuts and downgrades from firms including TD Securities, TD Cowen and Wall Street Zen.
• Priority Technology missed expectations in its latest quarter, reporting $0.27 EPS vs. a $0.29 consensus and $247.13M in revenue vs. $247.92M, while analysts now forecast -0.09 EPS for the current year and the company shows a negative return on equity of 66.5% (net margin 5.84%).
• Shares opened at $5.06, with a 12‑month range of $4.44–$8.89, a market capitalization of $416.36M and a trailing P/E of 7.33.

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) have received a consensus rating of "Hold" from the six analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.75.

PRTH has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Priority Technology in a research note on Monday, December 29th. TD Securities lowered their target price on Priority Technology from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, March 11th. Wall Street Zen cut shares of Priority Technology from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. TD Cowen cut their price target on shares of Priority Technology from $10.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, March 11th. Finally, Zacks Research lowered shares of Priority Technology from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 11th.

Priority Technology Trading Up 3.7%

Shares of PRTH stock opened at $5.06 on Tuesday. Priority Technology has a twelve month low of $4.44 and a twelve month high of $8.89. The company has a market capitalization of $416.36 million, a PE ratio of 7.33 and a beta of 1.39. The firm has a fifty day simple moving average of $5.55 and a 200-day simple moving average of $6.07.

Priority Technology (NASDAQ:PRTH - Get Free Report) last issued its quarterly earnings results on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). Priority Technology had a negative return on equity of 66.50% and a net margin of 5.84%.The company had revenue of $247.13 million for the quarter, compared to the consensus estimate of $247.92 million. Equities research analysts predict that Priority Technology will post -0.09 EPS for the current year.

Institutional Trading of Priority Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Steamboat Capital Partners LLC boosted its holdings in shares of Priority Technology by 13.5% during the 4th quarter. Steamboat Capital Partners LLC now owns 1,576,734 shares of the company's stock worth $8,593,000 after buying an additional 187,893 shares during the period. Vanguard Group Inc. lifted its position in Priority Technology by 13.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,487,948 shares of the company's stock worth $10,222,000 after acquiring an additional 181,795 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Priority Technology by 1,912.7% during the fourth quarter. Wells Fargo & Company MN now owns 711,136 shares of the company's stock valued at $3,876,000 after acquiring an additional 675,803 shares during the period. Geode Capital Management LLC boosted its holdings in Priority Technology by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 660,518 shares of the company's stock valued at $3,601,000 after acquiring an additional 53,317 shares during the period. Finally, Norwood Investment Partners LP acquired a new stake in shares of Priority Technology in the fourth quarter valued at about $3,433,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Priority Technology Company Profile

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.

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