Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives $8.75 Average PT from Analysts

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has been given an average rating of “Hold” by the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.75.

A number of research analysts recently commented on PRTH shares. TD Cowen reduced their price target on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research report on Friday, March 27th. TD Securities dropped their price target on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Zacks Research downgraded shares of Priority Technology from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen raised shares of Priority Technology from a “hold” rating to a “buy” rating in a report on Saturday, April 11th.

Institutional Trading of Priority Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Priority Technology in the 2nd quarter worth approximately $29,000. BNP Paribas Financial Markets raised its position in shares of Priority Technology by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock valued at $35,000 after acquiring an additional 1,863 shares in the last quarter. Strs Ohio bought a new position in Priority Technology during the first quarter worth $46,000. Aaron Wealth Advisors LLC acquired a new position in Priority Technology in the first quarter worth $50,000. Finally, Invesco Ltd. bought a new stake in Priority Technology during the fourth quarter valued at $58,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Trading Up 0.9%

Shares of PRTH stock opened at $5.33 on Friday. The firm has a fifty day simple moving average of $5.16 and a 200-day simple moving average of $5.70. The company has a market capitalization of $438.61 million, a PE ratio of 7.72 and a beta of 1.51. Priority Technology has a twelve month low of $4.44 and a twelve month high of $8.89.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The firm had revenue of $247.13 million during the quarter, compared to analyst estimates of $247.92 million. Priority Technology had a negative return on equity of 66.50% and a net margin of 5.84%. Equities research analysts predict that Priority Technology will post 1.17 EPS for the current year.

About Priority Technology

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.