Priority Technology (NASDAQ:PRTH) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Priority Technology (NASDAQ:PRTH) from "hold" to "buy"; overall analyst coverage is mixed—three Buys, two Holds and one Sell—with a consensus target price of $8.75.
• Recent quarter missed estimates: PRTH reported $0.27 EPS vs. $0.29 expected and $247.13M revenue roughly in line, carried a negative return on equity of 66.5%, and analysts expect -0.09 EPS for the current year.
• Valuation and price action: PRTH opened at $4.65, has a market cap of $382.65M, a P/E of 6.74, and a 52‑week range of $4.44–$8.89.

Priority Technology (NASDAQ:PRTH - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other equities analysts have also recently weighed in on PRTH. Zacks Research cut shares of Priority Technology from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 11th. TD Cowen reduced their price objective on shares of Priority Technology from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, March 11th. Weiss Ratings restated a "hold (c)" rating on shares of Priority Technology in a research report on Friday, March 27th. Finally, TD Securities reduced their price objective on shares of Priority Technology from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Priority Technology has an average rating of "Hold" and a consensus target price of $8.75.

Priority Technology Price Performance

PRTH opened at $4.65 on Friday. The firm has a fifty day moving average price of $5.23 and a 200 day moving average price of $5.83. The stock has a market cap of $382.65 million, a P/E ratio of 6.74 and a beta of 1.51. Priority Technology has a 1 year low of $4.44 and a 1 year high of $8.89.

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

Institutional Investors Weigh In On Priority Technology

Large investors have recently modified their holdings of the business. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Priority Technology during the third quarter worth $1,840,000. Invenomic Capital Management LP purchased a new stake in shares of Priority Technology during the third quarter worth $2,308,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Priority Technology during the third quarter worth $929,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Priority Technology during the third quarter worth $190,000. Finally, CWM LLC grew its holdings in shares of Priority Technology by 74.2% during the third quarter. CWM LLC now owns 30,549 shares of the company's stock worth $210,000 after buying an additional 13,012 shares in the last quarter. Hedge funds and other institutional investors own 11.52% of the company's stock.

About Priority Technology

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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