Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock Has Consensus Price Target of $8.59 According to Brokerages

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $8.59.

PRTH has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Priority Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research downgraded shares of Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. B. Riley Financial lowered shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $8.05 target price on the stock. in a research report on Friday, October 2nd. Lake Street Capital cut shares of Priority Technology from a “buy” rating to a “hold” rating and decreased their price target for the company from $13.00 to $8.05 in a research note on Monday, September 21st. Finally, Alliance Global Partners lowered shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Thursday, August 6th.

Hedge Funds Weigh In On Priority Technology

Large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Priority Technology during the 2nd quarter worth approximately $67,000. The Manufacturers Life Insurance Company bought a new stake in shares of Priority Technology during the second quarter worth approximately $69,000. One68 Global Capital LLC bought a new stake in shares of Priority Technology during the second quarter worth approximately $73,000. Legal & General Group Plc bought a new stake in shares of Priority Technology during the second quarter worth approximately $111,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Priority Technology in the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Stock Performance

NASDAQ:PRTH opened at $7.91 on Wednesday. Priority Technology has a 1 year low of $4.44 and a 1 year high of $7.92. The firm has a 50 day moving average of $7.02 and a 200-day moving average of $6.11. The stock has a market capitalization of $652.10 million, a P/E ratio of 11.46 and a beta of 1.74.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $262.26 million during the quarter, compared to the consensus estimate of $257.81 million. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%. As a group, analysts forecast that Priority Technology will post 1.23 EPS for the current fiscal year.

About Priority Technology

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides payment processing and commerce solutions to businesses, software providers and financial institutions. Its platform supports card and electronic payment acceptance across in-person, online and mobile channels, as well as related payment and reporting functions.

The company offers integrated payments and embedded payment capabilities that can be incorporated into business-management and vertical-market software.