Verra Mobility (NASDAQ:VRRM) Reaches New 52-Week Low – Here’s Why

Verra Mobility Corp (NASDAQ:VRRM)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.41 and last traded at $15.3070, with a volume of 134086 shares. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VRRM. Morgan Stanley reduced their price target on shares of Verra Mobility from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Robert W. Baird set a $24.00 price target on Verra Mobility in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Verra Mobility in a report on Monday, December 29th. Wall Street Zen downgraded Verra Mobility from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Verra Mobility from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.00.

Verra Mobility Trading Down 2.2%

The company has a fifty day simple moving average of $19.56 and a two-hundred day simple moving average of $22.02. The company has a current ratio of 2.10, a quick ratio of 2.00 and a debt-to-equity ratio of 3.49. The company has a market cap of $2.33 billion, a PE ratio of 18.18, a P/E/G ratio of 2.61 and a beta of 0.60.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Tuesday, February 24th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Verra Mobility had a return on equity of 57.45% and a net margin of 13.95%.The firm had revenue of $257.86 million for the quarter, compared to analysts’ expectations of $241.17 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Verra Mobility has set its FY 2026 guidance at 1.320-1.380 EPS. Analysts anticipate that Verra Mobility Corp will post 1.08 EPS for the current year.

Hedge Funds Weigh In On Verra Mobility

Several large investors have recently bought and sold shares of the business. State of Wyoming lifted its holdings in Verra Mobility by 1.5% during the 3rd quarter. State of Wyoming now owns 31,483 shares of the company’s stock worth $778,000 after buying an additional 454 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Verra Mobility by 14.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,922 shares of the company’s stock valued at $97,000 after acquiring an additional 508 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Verra Mobility by 1.1% in the 3rd quarter. Victory Capital Management Inc. now owns 45,583 shares of the company’s stock valued at $1,126,000 after acquiring an additional 511 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Verra Mobility by 35.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,020 shares of the company’s stock worth $50,000 after acquiring an additional 526 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Verra Mobility by 9.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,522 shares of the company’s stock worth $161,000 after acquiring an additional 574 shares in the last quarter.

About Verra Mobility

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.