Priority Technology (NASDAQ:PRTH – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.
Several other research analysts have also commented on PRTH. Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. 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 research report on Wednesday, March 11th. TD Securities reduced their price target on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Priority Technology currently has an average rating of “Moderate Buy” and an average target price of $8.75.
Get Our Latest Analysis on PRTH
Priority Technology Stock Up 1.5%
Priority Technology (NASDAQ:PRTH – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. The business had revenue of $249.56 million during the quarter, compared to analyst estimates of $242.87 million. Priority Technology had a negative return on equity of 83.50% and a net margin of 5.85%. On average, research analysts expect that Priority Technology will post 1.24 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Priority Technology during the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets increased its position in 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 buying an additional 1,863 shares in the last quarter. Strs Ohio acquired a new position in Priority Technology during the 1st quarter valued at about $46,000. Aaron Wealth Advisors LLC acquired a new position in Priority Technology during the 1st quarter valued at about $50,000. Finally, Invesco Ltd. acquired a new position in Priority Technology during the 4th quarter valued at about $58,000. 11.52% of the stock is owned by institutional investors and hedge funds.
Priority Technology Company Profile
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.
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