Priority Technology (NASDAQ:PRTH) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Priority Technology (NASDAQ:PRTH) issued its quarterly earnings data on Thursday. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05, Zacks reports. The firm had revenue of $268.62 million for the quarter, compared to the consensus estimate of $259.50 million. Priority Technology had a net margin of 5.61% and a negative return on equity of 104.91%.

Priority Technology Stock Up 0.1%

Shares of NASDAQ PRTH traded up $0.01 during mid-day trading on Friday, hitting $7.88. 727,988 shares of the company traded hands, compared to its average volume of 561,650. Priority Technology has a 1 year low of $4.44 and a 1 year high of $7.94. The stock has a market capitalization of $649.63 million, a price-to-earnings ratio of 16.08 and a beta of 1.74. The business has a 50 day moving average of $7.17 and a two-hundred day moving average of $6.14.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PRTH shares. Wall Street Zen cut Priority Technology from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Keefe, Bruyette & Woods boosted their price target on Priority Technology from $6.50 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 22nd. Zacks Research cut Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. B. Riley Financial lowered Priority Technology from a “buy” rating to a “neutral” rating and set a $8.05 price target on the stock. in a report on Friday, October 2nd. Finally, Lake Street Capital cut shares of Priority Technology from a “buy” rating to a “hold” rating and cut their price objective for the company from $13.00 to $8.05 in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Priority Technology has an average rating of “Hold” and an average target price of $8.18.

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.