Priority Technology (NASDAQ:PRTH) Stock Price Up 4.2% - What's Next?

Key Points

• Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw its stock price increase by 4.2%, trading at $7.33 after reaching a high of $7.43.
• Analysts have a consensus rating of "Moderate Buy" for PRTH, with a target price of $13.00 and ratings ranging from Strong Buy to Hold.
• For its most recent quarter, Priority Technology reported $0.26 earnings per share, exceeding expectations, and had a revenue of $239.81 million, also above estimates.

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report)'s stock price traded up 4.2% during trading on Tuesday . The company traded as high as $7.43 and last traded at $7.33. 142,482 shares were traded during trading, a decline of 74% from the average session volume of 555,300 shares. The stock had previously closed at $7.03.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRTH. Wall Street Zen upgraded shares of Priority Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research lowered Priority Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Priority Technology in a research note on Saturday, September 27th. Finally, Cowen reiterated a "buy" rating on shares of Priority Technology in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Priority Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Priority Technology Stock Performance

The stock's 50-day moving average price is $7.51 and its two-hundred day moving average price is $7.51. The stock has a market capitalization of $579.09 million, a PE ratio of 28.17 and a beta of 1.86.

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

Institutional Investors Weigh In On Priority Technology

Several institutional investors and hedge funds have recently made changes to their positions in PRTH. Corebridge Financial Inc. raised its stake 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 worth $74,000 after purchasing an additional 1,733 shares during the last quarter. Rhumbline Advisers increased its holdings in Priority Technology by 10.2% in the 1st quarter. Rhumbline Advisers now owns 26,131 shares of the company's stock worth $178,000 after buying an additional 2,425 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Priority Technology by 25.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company's stock worth $89,000 after buying an additional 2,648 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Priority Technology by 8.7% during the 1st quarter. Bank of New York Mellon Corp now owns 43,143 shares of the company's stock valued at $294,000 after acquiring an additional 3,450 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Priority Technology during the 2nd quarter valued at about $29,000. Institutional investors own 11.52% of the company's stock.

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.

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