i3 Verticals, Inc. (NASDAQ:IIIV) Receives $27.14 Average Target Price from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIV) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $27.14.

A number of equities research analysts have recently commented on the stock. BMO Capital Markets lowered their price target on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, October 3rd. DA Davidson reaffirmed a “buy” rating and issued a $32.00 target price on shares of i3 Verticals in a research note on Monday, September 30th. KeyCorp reduced their price target 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. Benchmark reaffirmed a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, September 3rd. Finally, Raymond James reduced their target price on 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.

Institutional Investors Weigh In On i3 Verticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in IIIV. Comerica Bank boosted 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 period. SG Americas Securities LLC acquired a new position in shares of i3 Verticals in the second quarter worth about $116,000. EntryPoint Capital LLC acquired a new position in shares of i3 Verticals in the 1st quarter valued at approximately $210,000. Sanctuary Advisors LLC bought a new position in i3 Verticals during the 2nd quarter valued at $292,000. Finally, Argent Capital Management LLC lifted its holdings in i3 Verticals by 60.7% in the second quarter. Argent Capital Management LLC now owns 14,066 shares of the company’s stock worth $311,000 after acquiring an additional 5,311 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Stock Performance

Shares of IIIV opened at $22.86 on Friday. 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 12-month low of $17.54 and a 12-month high of $25.51. The stock has a market cap of $772.44 million, a P/E ratio of -254.00 and a beta of 1.54. The company has a 50-day moving average of $22.05 and a two-hundred day moving average of $21.79.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results 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 company had revenue of $56.04 million for the quarter, compared to analysts’ expectations of $96.43 million. As a group, research analysts predict that i3 Verticals will post 0.37 EPS 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.