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

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $27.14.

Several brokerages recently issued reports on IIIV. KeyCorp lowered their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Stephens reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a research note on Friday, August 16th. BMO Capital Markets decreased their target price on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday. Raymond James lowered their price target on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, August 12th. Finally, Benchmark reissued a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday, September 3rd.

Institutional Investors Weigh In On i3 Verticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geneva Capital Management LLC grew its holdings in i3 Verticals by 1.7% during the first quarter. Geneva Capital Management LLC now owns 1,919,097 shares of the company’s stock worth $43,928,000 after buying an additional 31,271 shares in the last quarter. Hood River Capital Management LLC boosted its position in i3 Verticals by 6.3% in the second quarter. Hood River Capital Management LLC now owns 1,190,184 shares of the company’s stock worth $26,279,000 after purchasing an additional 70,253 shares during the last quarter. Ranger Investment Management L.P. boosted its position in i3 Verticals by 2.6% in the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock worth $22,186,000 after purchasing an additional 26,670 shares during the last quarter. Heartland Advisors Inc. boosted its position in i3 Verticals by 10.9% in the first quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock worth $13,729,000 after purchasing an additional 59,050 shares during the last quarter. Finally, Long Path Partners LP purchased a new position in i3 Verticals in the second quarter worth $12,756,000. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Trading Up 3.1 %

Shares of i3 Verticals stock opened at $21.96 on Monday. The firm’s 50 day moving average is $22.17 and its 200 day moving average is $21.77. The firm has a market capitalization of $735.05 million, a PE ratio of 2,165.00 and a beta of 1.54. 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 1 year low of $17.54 and a 1 year high of $25.51.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). The business had revenue of $56.04 million during the quarter, compared to the consensus estimate of $96.43 million. i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. Equities research analysts forecast that i3 Verticals will post 0.19 earnings per share for the current fiscal 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.