i3 Verticals (NASDAQ:IIIV) Given “Buy” Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of i3 Verticals (NASDAQ:IIIV) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $32.00 price target on the stock.

Several other research analysts also recently issued reports on IIIV. KeyCorp dropped their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an overweight rating on the stock in a report on Monday, August 12th. Raymond James dropped their price target on i3 Verticals from $31.00 to $28.00 and set a strong-buy rating for the company in a report on Monday, August 12th. Stephens reiterated an overweight rating and set a $29.00 target price on shares of i3 Verticals in a research report on Friday, August 16th. Finally, Benchmark restated a buy rating and set a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $27.57.

i3 Verticals Stock Performance

Shares of IIIV opened at $21.31 on Monday. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $25.51. The stock has a market capitalization of $713.29 million, a P/E ratio of 2,131.00 and a beta of 1.54. The firm’s 50 day moving average is $22.34 and its 200-day moving average is $21.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98.

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

Institutional Investors Weigh In On i3 Verticals

A number of institutional investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. bought a new stake in i3 Verticals during the first quarter valued at $25,000. Comerica Bank lifted its stake in shares of i3 Verticals by 46.0% in the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after purchasing an additional 672 shares during the period. SG Americas Securities LLC bought a new stake in shares of i3 Verticals during the 2nd quarter valued at about $116,000. Argent Capital Management LLC acquired a new stake in i3 Verticals during the first quarter worth approximately $200,000. Finally, EntryPoint Capital LLC acquired a new stake in i3 Verticals during the first quarter worth approximately $210,000. 84.22% of the stock is owned by institutional investors.

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.