Priority Technology (NASDAQ:PRTH) Announces Earnings Results

Priority Technology (NASDAQ:PRTH - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.12, Zacks reports. The firm had revenue of $227.07 million during the quarter, compared to analysts' expectations of $226.99 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. Priority Technology updated its FY 2025 guidance to EPS.

Priority Technology Price Performance

PRTH traded down $0.50 during trading on Monday, hitting $7.16. The company had a trading volume of 1,082,992 shares, compared to its average volume of 219,950. Priority Technology has a 1-year low of $2.82 and a 1-year high of $12.47. The company has a market cap of $552.74 million, a PE ratio of -17.05 and a beta of 0.99. The business has a 50-day moving average of $10.28 and a 200-day moving average of $8.34.

Insiders Place Their Bets

In other Priority Technology news, CEO Thomas Charles Priore sold 294,167 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $2,188,602.48. Following the transaction, the chief executive officer now owns 34,025,319 shares of the company's stock, valued at $253,148,373.36. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Ranjana Ram sold 18,385 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $136,784.40. Following the completion of the sale, the chief operating officer now owns 693,004 shares of the company's stock, valued at $5,155,949.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,293,227 shares of company stock valued at $39,921,204 in the last ninety days. Corporate insiders own 76.30% of the company's stock.

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Wall Street Analysts Forecast Growth

PRTH has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $12.00 price target (down from $14.00) on shares of Priority Technology in a report on Friday. B. Riley lifted their target price on Priority Technology from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Lake Street Capital boosted their price target on Priority Technology from $8.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd.

Priority Technology Company Profile

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.