i3 Verticals Inc (IIIV) Receives $24.83 Average PT from Analysts

Shares of i3 Verticals Inc (NASDAQ:IIIV) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $24.83.

Separately, Zacks Investment Research downgraded i3 Verticals from a “hold” rating to a “sell” rating in a report on Friday, March 15th.

A number of institutional investors have recently modified their holdings of the business. Citigroup Inc. grew its holdings in i3 Verticals by 35.2% during the 1st quarter. Citigroup Inc. now owns 2,499 shares of the company’s stock worth $60,000 after acquiring an additional 650 shares during the period. Rhumbline Advisers grew its holdings in i3 Verticals by 7.6% during the 1st quarter. Rhumbline Advisers now owns 10,234 shares of the company’s stock worth $246,000 after acquiring an additional 727 shares during the period. American International Group Inc. grew its holdings in i3 Verticals by 14.8% during the 1st quarter. American International Group Inc. now owns 5,836 shares of the company’s stock worth $140,000 after acquiring an additional 754 shares during the period. Northern Trust Corp grew its holdings in i3 Verticals by 0.8% during the 4th quarter. Northern Trust Corp now owns 97,259 shares of the company’s stock worth $2,344,000 after acquiring an additional 794 shares during the period. Finally, Legal & General Group Plc acquired a new stake in i3 Verticals during the 3rd quarter worth about $27,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

NASDAQ IIIV traded up $0.83 on Friday, reaching $24.30. The company had a trading volume of 89,463 shares, compared to its average volume of 85,033. The company has a market capitalization of $623.96 million and a price-to-earnings ratio of 43.39. i3 Verticals has a fifty-two week low of $13.79 and a fifty-two week high of $27.09. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.61.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). The company had revenue of $31.40 million during the quarter, compared to analyst estimates of $29.79 million. i3 Verticals had a negative net margin of 0.19% and a positive return on equity of 14.70%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. Research analysts expect that i3 Verticals will post 0.76 earnings per share for the current fiscal year.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.

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Analyst Recommendations for i3 Verticals (NASDAQ:IIIV)

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