i3 Verticals, Inc. (NASDAQ:IIIV) Receives $29.86 Consensus Price Target from Analysts

i3 Verticals, Inc. (NASDAQ:IIIV) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.86.

IIIV has been the subject of several research analyst reports. KeyCorp upped their price target on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. DA Davidson increased their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. BMO Capital Markets lifted their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, February 10th. Finally, Morgan Stanley increased their price objective on shares of i3 Verticals from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IIIV. Johnson Financial Group Inc. acquired a new position in i3 Verticals in the 4th quarter worth $72,000. KLP Kapitalforvaltning AS acquired a new position in shares of i3 Verticals in the fourth quarter worth about $99,000. Quantbot Technologies LP purchased a new position in i3 Verticals in the third quarter valued at about $109,000. CIBC Private Wealth Group LLC grew its stake in i3 Verticals by 52.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock valued at $126,000 after purchasing an additional 1,809 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in i3 Verticals by 688,600.0% during the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock worth $159,000 after purchasing an additional 6,886 shares during the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

i3 Verticals Stock Performance

i3 Verticals stock opened at $24.59 on Monday. i3 Verticals has a 1 year low of $18.75 and a 1 year high of $29.80. The firm has a 50 day moving average price of $25.75 and a 200 day moving average price of $24.13. The company has a market cap of $813.29 million, a price-to-earnings ratio of 5.48 and a beta of 1.52.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. Sell-side analysts predict that i3 Verticals will post 0.9 EPS for the current year.

About i3 Verticals

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.