i3 Verticals (NASDAQ:IIIV) had its price objective increased by equities researchers at Raymond James from $36.00 to $40.00 in a report released on Thursday, Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 34.18% from the stock’s previous close.

IIIV has been the subject of a number of other research reports. Piper Sandler assumed coverage on shares of i3 Verticals in a research report on Monday, December 21st. They set an “overweight” rating and a $37.00 target price for the company. BidaskClub raised shares of i3 Verticals from a “hold” rating to a “buy” rating in a research report on Friday, December 18th. TheStreet raised shares of i3 Verticals from a “d” rating to a “c-” rating in a research report on Monday, November 23rd. Bank of America downgraded shares of i3 Verticals from a “neutral” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Wednesday, January 6th. Finally, Stephens started coverage on shares of i3 Verticals in a research report on Tuesday, December 15th. They set an “overweight” rating and a $37.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $35.44.

Shares of NASDAQ IIIV opened at $29.81 on Thursday. The company has a 50 day simple moving average of $30.78 and a 200 day simple moving average of $27.17. The firm has a market cap of $918.80 million, a PE ratio of -745.25 and a beta of 1.60. i3 Verticals has a 1 year low of $13.01 and a 1 year high of $37.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.98 and a quick ratio of 0.98.

i3 Verticals (NASDAQ:IIIV) last released its earnings results on Friday, November 20th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $38.43 million during the quarter, compared to the consensus estimate of $37.47 million. i3 Verticals had a negative net margin of 0.28% and a positive return on equity of 10.30%. As a group, research analysts anticipate that i3 Verticals will post 0.75 earnings per share for the current fiscal year.

In other i3 Verticals news, President Frederick Stanford sold 28,971 shares of i3 Verticals stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $28.90, for a total transaction of $837,261.90. Following the completion of the transaction, the president now owns 45,000 shares of the company’s stock, valued at approximately $1,300,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert Bertke sold 3,149 shares of i3 Verticals stock in a transaction dated Friday, December 18th. The shares were sold at an average price of $32.01, for a total value of $100,799.49. Following the transaction, the chief technology officer now directly owns 1,200 shares of the company’s stock, valued at approximately $38,412. The disclosure for this sale can be found here. Insiders have sold a total of 432,120 shares of company stock valued at $11,778,061 in the last ninety days. Insiders own 40.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of i3 Verticals by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 1,203,700 shares of the company’s stock worth $30,129,000 after purchasing an additional 10,397 shares in the last quarter. Crosslink Capital Inc. grew its holdings in shares of i3 Verticals by 17.2% during the third quarter. Crosslink Capital Inc. now owns 307,272 shares of the company’s stock worth $7,759,000 after purchasing an additional 45,151 shares in the last quarter. Scout Investments Inc. grew its holdings in shares of i3 Verticals by 2.8% during the fourth quarter. Scout Investments Inc. now owns 228,609 shares of the company’s stock worth $7,590,000 after purchasing an additional 6,200 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in shares of i3 Verticals by 37.4% during the third quarter. Wasatch Advisors Inc. now owns 217,143 shares of the company’s stock worth $5,483,000 after purchasing an additional 59,104 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of i3 Verticals by 139.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 146,784 shares of the company’s stock worth $3,706,000 after purchasing an additional 85,442 shares in the last quarter. 54.21% of the stock is owned by institutional investors.

i3 Verticals Company Profile

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. It operates in two segments, Merchant Services, and Proprietary Software and Payments.

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Analyst Recommendations for i3 Verticals (NASDAQ:IIIV)

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