Priority Technology (NASDAQ:PRTH) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Priority Technology (NASDAQ:PRTH) released its earnings results on Thursday. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05, Zacks reports. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%. The firm had revenue of $268.62 million for the quarter, compared to analysts’ expectations of $259.50 million.

Priority Technology Stock Up 0.1%

Shares of NASDAQ PRTH traded up $0.01 during midday trading on Friday, hitting $7.88. The stock had a trading volume of 727,988 shares, compared to its average volume of 561,650. Priority Technology has a 1 year low of $4.44 and a 1 year high of $7.94. The stock has a 50 day simple moving average of $7.17 and a 200-day simple moving average of $6.14. The company has a market capitalization of $649.63 million, a PE ratio of 7.06 and a beta of 1.74.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PRTH shares. Weiss Ratings upgraded Priority Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of Priority Technology from $6.50 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, September 22nd. Wall Street Zen downgraded shares of Priority Technology from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Alliance Global Partners cut Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research report on Thursday, August 6th. Finally, Lake Street Capital lowered Priority Technology from a “buy” rating to a “hold” rating and reduced their price target for the stock from $13.00 to $8.05 in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.18.

Priority Technology Company Profile

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides payment processing and commerce solutions to businesses, software providers and financial institutions. Its platform supports card and electronic payment acceptance across in-person, online and mobile channels, as well as related payment and reporting functions.

The company offers integrated payments and embedded payment capabilities that can be incorporated into business-management and vertical-market software.