i3 Verticals, Inc. (NASDAQ:IIIV) Receives $27.43 Consensus Price Target from Brokerages

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $27.43.

Several research firms recently commented on IIIV. Morgan Stanley cut their price target on shares of i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. BMO Capital Markets lowered their price target on i3 Verticals from $24.00 to $23.00 and set a “market perform” rating for the company in a report on Monday, February 12th. KeyCorp boosted their price objective on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $28.00 target price on shares of i3 Verticals in a research note on Monday, April 1st.

Institutional Trading of i3 Verticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ABS Direct Equity Fund LLC purchased a new stake in i3 Verticals during the 4th quarter worth approximately $741,000. Assenagon Asset Management S.A. acquired a new stake in shares of i3 Verticals during the third quarter worth approximately $6,807,000. Boston Partners acquired a new stake in shares of i3 Verticals during the third quarter worth approximately $978,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of i3 Verticals by 4.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 90,276 shares of the company’s stock worth $1,911,000 after buying an additional 3,904 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in i3 Verticals by 28.7% in the third quarter. Raymond James & Associates now owns 77,660 shares of the company’s stock valued at $1,642,000 after acquiring an additional 17,297 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Trading Down 1.6 %

Shares of IIIV opened at $22.17 on Friday. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $25.70. The firm has a market capitalization of $739.88 million, a P/E ratio of -316.71 and a beta of 1.56. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.85. The stock’s fifty day simple moving average is $22.50 and its 200 day simple moving average is $20.94.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. i3 Verticals had a return on equity of 9.28% and a net margin of 0.14%. The business had revenue of $91.99 million for the quarter, compared to analyst estimates of $92.92 million. On average, equities research analysts forecast that i3 Verticals will post 0.95 earnings per share for the current year.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.