Verra Mobility (NASDAQ:VRRM) Price Target Raised to $29.00

Verra Mobility (NASDAQ:VRRM) had its target price raised by Robert W. Baird from $28.00 to $29.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also weighed in on the company. Morgan Stanley upped their target price on Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Verra Mobility Trading Up 2.5 %

Shares of NASDAQ VRRM opened at $27.61 on Monday. Verra Mobility has a twelve month low of $18.76 and a twelve month high of $31.03. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. The business has a fifty day simple moving average of $27.28 and a two-hundred day simple moving average of $26.98. The firm has a market cap of $4.60 billion, a PE ratio of 55.22, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $222.43 million during the quarter, compared to the consensus estimate of $220.32 million. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. Analysts expect that Verra Mobility will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Verra Mobility

Hedge funds and other institutional investors have recently made changes to their positions in the business. Juncture Wealth Strategies LLC increased its position in Verra Mobility by 4.1% during the 1st quarter. Juncture Wealth Strategies LLC now owns 44,872 shares of the company’s stock valued at $1,120,000 after buying an additional 1,770 shares in the last quarter. Guidance Capital Inc. acquired a new position in shares of Verra Mobility during the first quarter valued at about $468,000. AlphaMark Advisors LLC purchased a new position in shares of Verra Mobility in the 1st quarter valued at approximately $330,000. Allspring Global Investments Holdings LLC acquired a new stake in Verra Mobility in the 1st quarter worth approximately $26,000. Finally, Principal Financial Group Inc. grew its position in Verra Mobility by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,816,488 shares of the company’s stock worth $95,298,000 after purchasing an additional 140,471 shares during the last quarter.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.