Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have earned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $8.75.

A number of brokerages recently commented on PRTH. Zacks Research upgraded Priority Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. TD Cowen dropped their price objective on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Weiss Ratings restated a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, June 24th. TD Securities reduced their target price on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Wall Street Zen upgraded shares of Priority Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th.

Institutional Trading of Priority Technology

A number of institutional investors have recently bought and sold shares of PRTH. Raymond James Financial Inc. acquired a new position in shares of Priority Technology in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets grew its stake in shares of Priority Technology by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $35,000 after purchasing an additional 1,863 shares during the period. Strs Ohio bought a new stake in Priority Technology in the first quarter valued at about $46,000. Aaron Wealth Advisors LLC bought a new stake in Priority Technology in the first quarter valued at about $50,000. Finally, Invesco Ltd. acquired a new position in Priority Technology in the fourth quarter valued at about $58,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Stock Performance

Shares of PRTH opened at $7.16 on Thursday. The business’s fifty day moving average price is $6.09 and its two-hundred day moving average price is $5.65. The firm has a market capitalization of $589.70 million, a price-to-earnings ratio of 10.08 and a beta of 1.54. Priority Technology has a 52 week low of $4.44 and a 52 week high of $8.89.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Monday, May 11th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. Priority Technology had a negative return on equity of 83.50% and a net margin of 5.85%.The company had revenue of $249.56 million during the quarter, compared to the consensus estimate of $242.87 million. As a group, research analysts forecast that Priority Technology will post 1.24 EPS for the current year.

Priority Technology Company Profile

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.