Zacks Investment Research upgraded shares of i3 Verticals (NASDAQ:IIIV) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The brokerage currently has $25.00 price target on the stock.
According to Zacks, “i3 Verticals, Inc. provides payment and software solutions. The Company offers electronic payment services to education, non-profit, public sector, property management and health care industries. i3 Verticals, Inc. is based in TN, United States. “
A number of other research firms have also recently commented on IIIV. Raymond James upped their target price on shares of i3 Verticals from $19.00 to $23.00 and gave the company an outperform rating in a research report on Friday, November 30th. KeyCorp upped their target price on shares of i3 Verticals from $21.00 to $22.00 and gave the company an overweight rating in a research report on Monday, October 15th. Finally, DA Davidson initiated coverage on shares of i3 Verticals in a research report on Wednesday, October 24th. They issued a buy rating and a $26.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. i3 Verticals currently has an average rating of Buy and an average target price of $23.20.
NASDAQ IIIV opened at $20.94 on Tuesday. i3 Verticals has a 12 month low of $13.79 and a 12 month high of $25.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $569.86 million and a price-to-earnings ratio of 37.39.
i3 Verticals (NASDAQ:IIIV) last posted its earnings results on Thursday, November 29th. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $28.10 million for the quarter, compared to the consensus estimate of $29.64 million. As a group, analysts predict that i3 Verticals will post 0.8 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of i3 Verticals during the second quarter worth about $1,350,000. Victory Capital Management Inc. acquired a new stake in shares of i3 Verticals during the second quarter worth about $699,000. Kornitzer Capital Management Inc. KS acquired a new stake in shares of i3 Verticals during the second quarter worth about $1,005,000. Wasatch Advisors Inc. acquired a new stake in shares of i3 Verticals during the second quarter worth about $3,619,000. Finally, Dean Capital Investments Management LLC acquired a new stake in shares of i3 Verticals during the second quarter worth about $498,000. 25.08% of the stock is currently owned by institutional investors.
About i3 Verticals
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses (SMBs) 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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