Priority Technology (NASDAQ:PRTH) Price Target Raised to $8.00

Priority Technology (NASDAQ:PRTH) had its price target raised by Keefe, Bruyette & Woods from $6.50 to $8.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other equities analysts have also issued reports on PRTH. Wall Street Zen lowered Priority Technology from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Lake Street Capital downgraded Priority Technology from a “buy” rating to a “hold” rating and cut their target price for the company from $13.00 to $8.05 in a research note on Monday. Zacks Research lowered Priority Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Alliance Global Partners cut Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Priority Technology currently has a consensus rating of “Hold” and an average price target of $8.67.

Priority Technology Stock Performance

Priority Technology stock opened at $7.79 on Tuesday. Priority Technology has a one year low of $4.44 and a one year high of $7.91. The company has a 50-day simple moving average of $6.02 and a 200-day simple moving average of $5.88. The firm has a market capitalization of $642.21 million, a P/E ratio of 11.29 and a beta of 1.55.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Priority Technology had a net margin of 5.61% and a negative return on equity of 104.91%. The firm had revenue of $262.26 million for the quarter, compared to the consensus estimate of $257.81 million. As a group, sell-side analysts forecast that Priority Technology will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Priority Technology

Hedge funds have recently made changes to their positions in the business. Aaron Wealth Advisors LLC acquired a new stake in Priority Technology during the first quarter valued at approximately $50,000. Sequoia Financial Advisors LLC acquired a new position in Priority Technology in the second quarter worth approximately $67,000. The Manufacturers Life Insurance Company bought a new position in shares of Priority Technology in the second quarter valued at $69,000. One68 Global Capital LLC bought a new position in shares of Priority Technology in the second quarter valued at $73,000. Finally, AXQ Capital LP acquired a new stake in shares of Priority Technology during the 4th quarter valued at $80,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Company Profile

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides commerce and payment-processing solutions to businesses, financial institutions and software providers. Its platform supports card payments, electronic payments and other transaction types, helping clients accept, manage and reconcile payments across in-person, online and business-to-business channels.

The company offers merchant acquiring and payment enablement services, including point-of-sale and e-commerce payment acceptance, payment gateway capabilities, automated clearing house (ACH) transactions, electronic invoicing and accounts-payable solutions.