i3 Verticals, Inc. (NASDAQ:IIIV) Receives $29.86 Consensus Price Target from Brokerages

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $29.86.

Several equities analysts have commented on IIIV shares. KeyCorp raised their price objective on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. DA Davidson boosted their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Morgan Stanley raised their target price on shares of i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets boosted their price target on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in i3 Verticals by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 48,500 shares of the company’s stock worth $1,034,000 after acquiring an additional 2,800 shares during the last quarter. Long Path Partners LP raised its stake in shares of i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after purchasing an additional 355,392 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of i3 Verticals in the third quarter worth $109,000. Atom Investors LP purchased a new position in shares of i3 Verticals in the third quarter worth $218,000. Finally, Portolan Capital Management LLC lifted its holdings in shares of i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock valued at $13,917,000 after purchasing an additional 23,921 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

IIIV stock opened at $25.22 on Monday. i3 Verticals has a 1 year low of $18.75 and a 1 year high of $29.80. The firm has a 50-day moving average of $25.71 and a 200 day moving average of $24.06. The company has a market cap of $834.13 million, a P/E ratio of 5.62 and a beta of 1.52.

i3 Verticals (NASDAQ:IIIV) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. On average, equities research analysts expect that i3 Verticals will post 0.9 earnings per share for the current fiscal 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.