i3 Verticals (NASDAQ: IIIV) disclosed its quarterly earnings on Monday, reporting earnings per share of $0.20. This figure fell short of the consensus estimate of $0.26 by $0.06, according to data from Zacks. The company also reported a net margin of 55.87% and a return on equity of 3.87%.
Despite the earnings miss, i3 Verticals’ stock saw a slight increase, trading up 0.6% during mid-day trading to reach $29.02. A total of 268,074 shares changed hands, which is above the company’s average volume of 264,681 shares. Over the past year, the stock has fluctuated between a low of $22.20 and a high of $33.97. The current 50-day moving average stands at $31.28, while the 200-day moving average is $28.93. The company’s market capitalization is approximately $936.19 million, with a price-to-earnings ratio of 5.56 and a beta of 1.23.
Insider Transactions and Analyst Ratings
In related news, there have been recent insider transactions at i3 Verticals. On September 11, 2023, General Counsel Paul Maple sold 2,500 shares at an average price of $31.04, totaling $77,600. Following this sale, Maple retained ownership of 33,269 shares, valued at approximately $1,032,669.76, marking a 6.99% decrease in his position. This transaction was disclosed in a filing with the Securities and Exchange Commission (SEC).
Additionally, Chief Revenue Officer Paul Christians sold 1,890 shares on August 29, 2023, for an average price of $31.40, amounting to $59,346. After this transaction, Christians owned 43,110 shares valued at around $1,353,654, reflecting a 4.20% decrease in ownership. Further details of these transactions are available through SEC filings.
Analysts have recently adjusted their ratings for i3 Verticals. Zacks Research upgraded the stock from a “strong sell” to a “hold” rating on October 30, 2023. On August 11, 2023, Stephens raised their target price from $35.00 to $40.00 and assigned an “overweight” rating. Benchmark also reiterated a “buy” rating with a target price of $39.00, up from the previous $33.00. Similarly, DA Davidson set a price objective of $39.00. Morgan Stanley adjusted their target price from $25.00 to $30.00, giving the stock an “equal weight” rating.
Currently, five research analysts have rated i3 Verticals as a “buy,” while three have assigned a “hold” rating. According to data from MarketBeat, the company holds a consensus rating of “Moderate Buy” with an average price target of $34.33.
Company Overview and Market Position
Founded in 2015, i3 Verticals, Inc. specializes in integrated payment and software solutions, primarily targeting the public sector and healthcare markets within the United States. The company operates through two segments: Software and Services, and Merchant Services. Their offerings include payment processing services that support various functions such as court case management, utility billing, and professional licensing.
As the company navigates the complexities of the market, the recent earnings report and insider transactions provide insight into its ongoing challenges and opportunities for growth. Stakeholders will be closely watching how these developments unfold in the coming months.
