Analysts Set i3 Verticals, Inc. (NASDAQ:IIIV) Price Target at $26.83

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $27.57.

Several research firms recently weighed in on IIIV. Benchmark reissued a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, September 3rd. DA Davidson reissued a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research report on Monday. Raymond James lowered their price objective on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 12th. KeyCorp dropped their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, Stephens reissued an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th.

Hedge Funds Weigh In On i3 Verticals

Several hedge funds have recently bought and sold shares of IIIV. Ranger Investment Management L.P. raised its stake in shares of i3 Verticals by 2.6% in the 4th quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock valued at $22,186,000 after acquiring an additional 26,670 shares in the last quarter. Palogic Value Management L.P. boosted its holdings in i3 Verticals by 65.5% during the fourth quarter. Palogic Value Management L.P. now owns 120,000 shares of the company’s stock valued at $2,540,000 after acquiring an additional 47,500 shares during the period. Confluence Investment Management LLC bought a new stake in i3 Verticals during the first quarter valued at about $3,461,000. CIBC Private Wealth Group LLC grew its position in shares of i3 Verticals by 147.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock valued at $5,196,000 after purchasing an additional 146,222 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of i3 Verticals in the second quarter worth about $600,000. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Stock Performance

Shares of IIIV opened at $21.15 on Monday. i3 Verticals has a one year low of $17.54 and a one year high of $25.51. The company has a 50-day moving average of $22.23 and a two-hundred day moving average of $21.77. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $707.93 million, a price-to-earnings ratio of 2,115.00 and a beta of 1.54.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share 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 for the quarter, compared to analysts’ expectations of $96.43 million. On average, equities research analysts expect that i3 Verticals will post 0.19 earnings per share for the current year.

About i3 Verticals

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.