i3 Verticals’ (IIIV) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research reissued their buy rating on shares of i3 Verticals (NASDAQ:IIIV) in a research note published on Thursday, The Fly reports. The brokerage currently has a $36.00 price target on the stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also commented on IIIV. ValuEngine lowered shares of i3 Verticals from a buy rating to a hold rating in a report on Wednesday, November 6th. Zacks Investment Research lowered shares of i3 Verticals from a buy rating to a hold rating in a report on Friday, November 29th. Finally, Bank of America upgraded shares of i3 Verticals from a neutral rating to a buy rating and set a $23.00 price target for the company in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $29.25.

Shares of i3 Verticals stock traded up $0.40 during trading on Thursday, reaching $31.80. The company’s stock had a trading volume of 97,747 shares, compared to its average volume of 121,987. i3 Verticals has a 52-week low of $18.65 and a 52-week high of $31.91. The company has a market cap of $844.01 million, a price-to-earnings ratio of 81.54, a PEG ratio of 1.56 and a beta of 0.56. The firm’s 50-day moving average is $28.78 and its two-hundred day moving average is $24.70. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.98.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. i3 Verticals had a negative net margin of 0.81% and a positive return on equity of 14.31%. The company had revenue of $40.57 million during the quarter, compared to analysts’ expectations of $38.20 million. During the same quarter in the prior year, the company earned $0.19 EPS. The firm’s revenue was up 44.4% on a year-over-year basis. On average, equities research analysts anticipate that i3 Verticals will post 0.81 EPS for the current year.

In related news, COO David Scott Meriwether sold 3,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $27.90, for a total transaction of $83,700.00. Following the completion of the sale, the chief operating officer now directly owns 56 shares in the company, valued at approximately $1,562.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 56.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new position in i3 Verticals in the 2nd quarter worth $25,000. Marshall Wace LLP bought a new position in i3 Verticals in the 1st quarter worth $29,000. Metropolitan Life Insurance Co NY bought a new position in i3 Verticals in the 3rd quarter worth $103,000. Cahaba Wealth Management Inc. bought a new position in i3 Verticals in the 3rd quarter worth $217,000. Finally, Barclays PLC raised its holdings in i3 Verticals by 51.7% in the 3rd quarter. Barclays PLC now owns 11,937 shares of the company’s stock worth $241,000 after purchasing an additional 4,070 shares in the last quarter. Institutional investors own 48.87% of the company’s stock.

i3 Verticals Company Profile

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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