ValuEngine Upgrades i3 Verticals (NASDAQ:IIIV) to Buy

i3 Verticals (NASDAQ:IIIV) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, ValuEngine reports.

Several other research analysts also recently weighed in on the stock. BTIG Research set a $31.00 target price on shares of i3 Verticals and gave the stock a “buy” rating in a report on Thursday, September 5th. KeyCorp upped their target price on shares of i3 Verticals from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Zacks Investment Research raised shares of i3 Verticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Bank of America raised shares of i3 Verticals from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.33.

i3 Verticals stock traded up $0.10 during mid-day trading on Monday, hitting $19.73. The stock had a trading volume of 103,100 shares, compared to its average volume of 157,168. The firm has a market capitalization of $540.65 million, a P/E ratio of 35.23, a P/E/G ratio of 1.02 and a beta of 0.36. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. The firm’s 50 day moving average is $20.42 and its 200 day moving average is $24.22. i3 Verticals has a one year low of $17.14 and a one year high of $31.44.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.02 million. i3 Verticals had a negative net margin of 0.36% and a positive return on equity of 14.53%. i3 Verticals’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. As a group, equities research analysts forecast that i3 Verticals will post 0.68 earnings per share for the current year.

In other news, Director David K. Morgan bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $21.35 per share, with a total value of $42,700.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 56.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Strs Ohio purchased a new stake in i3 Verticals in the 2nd quarter worth $609,000. D. E. Shaw & Co. Inc. purchased a new stake in i3 Verticals in the 2nd quarter worth $1,929,000. ClariVest Asset Management LLC purchased a new stake in i3 Verticals in the 2nd quarter worth $3,601,000. Nicholas Company Inc. lifted its stake in i3 Verticals by 7.3% in the 2nd quarter. Nicholas Company Inc. now owns 297,560 shares of the company’s stock worth $8,763,000 after purchasing an additional 20,160 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in i3 Verticals by 28.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 68,000 shares of the company’s stock worth $2,003,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 44.55% of the company’s stock.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for i3 Verticals (NASDAQ:IIIV)

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