Verra Mobility Corp (NASDAQ:VRRM) Receives $7.00 Consensus PT from Analysts

Verra Mobility Corp (NASDAQ:VRRM) has been given an average rating of “Reduce” by the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.00.

Several research analysts have weighed in on the stock. CJS Securities cut shares of Verra Mobility from a “market outperform” rating to a “market perform” rating and set a $10.00 price target on the stock. in a report on Wednesday, May 27th. JPMorgan Chase & Co. raised Verra Mobility from an “underweight” rating to a “neutral” rating and upped their target price for the company from $5.00 to $6.00 in a research report on Monday, July 13th. William Blair lowered Verra Mobility from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 27th. Northcoast Research reissued a “neutral” rating on shares of Verra Mobility in a report on Wednesday, May 27th. Finally, Robert W. Baird reduced their price target on Verra Mobility from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd.

Institutional Investors Weigh In On Verra Mobility

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Verra Mobility in the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its position in Verra Mobility by 967.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,260 shares of the company’s stock worth $28,000 after acquiring an additional 1,142 shares during the period. EverSource Wealth Advisors LLC raised its stake in Verra Mobility by 439.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the company’s stock worth $38,000 after purchasing an additional 1,217 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Verra Mobility by 100.7% in the 4th quarter. Salomon & Ludwin LLC now owns 1,497 shares of the company’s stock worth $34,000 after purchasing an additional 751 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Verra Mobility by 285.8% in the 2nd quarter. Osaic Holdings Inc. now owns 3,044 shares of the company’s stock valued at $72,000 after purchasing an additional 2,255 shares during the period.

Verra Mobility Price Performance

NASDAQ:VRRM opened at $4.56 on Friday. Verra Mobility has a one year low of $3.40 and a one year high of $25.57. The company has a market cap of $693.03 million, a P/E ratio of 17.54 and a beta of 0.41. The firm’s fifty day moving average price is $4.54 and its two-hundred day moving average price is $10.69. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $263.59 million for the quarter, compared to analyst estimates of $254.81 million. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities analysts expect that Verra Mobility will post 1.11 earnings per share for the current year.

Verra Mobility Company Profile

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.