Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives Average Rating of “Buy” from Brokerages

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has earned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.00.

A number of research analysts recently weighed in on PRTH shares. Zacks Research raised Priority Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Priority Technology in a research note on Friday, August 8th.

Priority Technology Price Performance

Shares of Priority Technology stock opened at $7.76 on Friday. Priority Technology has a one year low of $5.01 and a one year high of $12.47. The stock’s 50-day moving average is $7.67 and its 200 day moving average is $7.70. The firm has a market cap of $620.18 million, a price-to-earnings ratio of 29.85 and a beta of 1.64.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. Priority Technology had a negative return on equity of 47.35% and a net margin of 4.03%.The business had revenue of $239.81 million for the quarter, compared to the consensus estimate of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Priority Technology will post -0.09 EPS for the current fiscal year.

Institutional Trading of Priority Technology

Several institutional investors and hedge funds have recently modified their holdings of PRTH. Raymond James Financial Inc. purchased a new stake in shares of Priority Technology in the second quarter worth approximately $29,000. AlphaQuest LLC purchased a new stake in shares of Priority Technology in the first quarter worth approximately $37,000. Strs Ohio purchased a new stake in shares of Priority Technology in the first quarter worth approximately $46,000. CWM LLC raised its stake in shares of Priority Technology by 13,386.7% in the first quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $55,000 after purchasing an additional 8,032 shares during the last quarter. Finally, US Bancorp DE purchased a new stake in shares of Priority Technology in the first quarter worth approximately $58,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

About Priority Technology

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.