Priority Technology (NASDAQ:PRTH) Price Target Cut to $6.50 by Analysts at Keefe, Bruyette & Woods

Priority Technology (NASDAQ:PRTH) had its price objective reduced by Keefe, Bruyette & Woods from $7.50 to $6.50 in a research note published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other analysts have also recently weighed in on the company. Wall Street Zen cut Priority Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Alliance Global Partners cut Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research report on Thursday. Zacks Research downgraded Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Priority Technology has a consensus rating of “Hold” and a consensus target price of $8.50.

Priority Technology Stock Performance

PRTH stock opened at $5.39 on Friday. The company’s 50 day moving average price is $6.62 and its 200 day moving average price is $5.84. The firm has a market capitalization of $443.92 million, a price-to-earnings ratio of 7.81 and a beta of 1.57. Priority Technology has a fifty-two week low of $4.44 and a fifty-two week high of $8.59.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Priority Technology had a net margin of 5.61% and a negative return on equity of 98.46%. The company had revenue of $262.26 million during the quarter, compared to analysts’ expectations of $257.81 million. Equities analysts forecast that Priority Technology will post 1.24 EPS for the current fiscal year.

Institutional Trading of Priority Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Priority Technology by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $35,000 after buying an additional 1,863 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Priority Technology by 10.2% in the first quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock valued at $178,000 after acquiring an additional 2,425 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Priority Technology by 25.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after acquiring an additional 2,648 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Priority Technology by 14.4% during the third quarter. Alliancebernstein L.P. now owns 25,460 shares of the company’s stock worth $175,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Priority Technology by 3.9% in the 3rd quarter. Quarry LP now owns 88,122 shares of the company’s stock valued at $605,000 after acquiring an additional 3,303 shares during the period. 11.52% of the stock is owned by hedge funds and other institutional investors.

Priority Technology News Roundup

Here are the key news stories impacting Priority Technology this week:

• Positive Sentiment: Priority Technology reported second-quarter earnings of $0.29 per share, above analyst estimates of $0.26-$0.28, while revenue rose 9% year over year to approximately $262.3 million, exceeding expectations. Priority Technology Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The Payables segment led growth, supported by higher buyer-funded revenue. Management indicated full-year revenue is tracking near the high end of its guidance range, suggesting continued demand for the company’s connected-commerce platform. Buyer-Funded Revenue Powers Priority Technology Holdings’ Payables Surge
• Neutral Sentiment: Keefe, Bruyette & Woods lowered its price target from $7.50 to $6.50 and assigned a “market perform” rating. Although the target implies upside from recent trading levels, the reduced target signals more limited expectations.
• Negative Sentiment: Management’s earnings-call commentary highlighted margin pressure from business-mix shifts and rising costs. Consequently, full-year profit expectations are trending toward the low end of guidance despite revenue holding near the high end. PRTH Q2 Earnings Call Flags Margin Pressure as Growth Holds
• Negative Sentiment: Alliance Global Partners downgraded PRTH from “buy” to “neutral” and set a $7.00 target. The downgrade, together with KBW’s target reduction, likely weighs on sentiment by emphasizing profitability and execution risks.

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.