i3 Verticals, Inc. (NASDAQ:IIIV) Receives $26.83 Consensus Target Price from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIV) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $26.83.

A number of research analysts recently issued reports on IIIV shares. BMO Capital Markets reduced their price objective on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, May 13th. Raymond James cut their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. Stephens reaffirmed an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, September 3rd. Finally, KeyCorp cut their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IIIV. Conestoga Capital Advisors LLC grew its stake in i3 Verticals by 0.9% in the first quarter. Conestoga Capital Advisors LLC now owns 70,222 shares of the company’s stock valued at $1,607,000 after purchasing an additional 640 shares in the last quarter. Comerica Bank lifted its position in shares of i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after buying an additional 672 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of i3 Verticals by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 43,000 shares of the company’s stock worth $910,000 after buying an additional 1,025 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in i3 Verticals during the 1st quarter valued at approximately $25,000. Finally, Select Equity Group L.P. boosted its stake in i3 Verticals by 1.8% during the 2nd quarter. Select Equity Group L.P. now owns 65,730 shares of the company’s stock valued at $1,451,000 after purchasing an additional 1,147 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

Shares of IIIV opened at $21.37 on Thursday. The firm has a market cap of $715.30 million, a price-to-earnings ratio of 2,137.00 and a beta of 1.54. The stock has a 50 day moving average of $22.67 and a 200-day moving average of $21.82. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. i3 Verticals has a 52 week low of $17.54 and a 52 week high of $25.51.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.31). i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. The firm had revenue of $56.04 million during the quarter, compared to analyst estimates of $96.43 million. As a group, analysts forecast that i3 Verticals will post 0.64 EPS for the current year.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.