Priority Technology (NASDAQ:PRTH) Announces Earnings Results

Priority Technology (NASDAQ:PRTH) announced its quarterly earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13, Zacks reports. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. Priority Technology updated its FY 2025 guidance to EPS.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH traded down $0.82 on Thursday, reaching $8.26. The company’s stock had a trading volume of 480,055 shares, compared to its average volume of 694,049. Priority Technology has a 52-week low of $2.82 and a 52-week high of $12.47. The company has a market cap of $637.35 million, a P/E ratio of -19.85 and a beta of 0.99. The company has a 50-day simple moving average of $10.42 and a 200 day simple moving average of $8.28.

Insiders Place Their Bets

In related news, COO Ranjana Ram sold 6,615 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $49,215.60. Following the transaction, the chief operating officer now directly owns 686,389 shares in the company, valued at approximately $5,106,734.16. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Charles Priore sold 294,167 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were 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 in the company, valued at $253,148,373.36. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,293,227 shares of company stock valued at $39,921,204 in the last three months. Corporate insiders own 76.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PRTH shares. B. Riley lifted their price target on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 25th. Lake Street Capital lifted their price objective on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $10.00 to $14.00 in a research note on Thursday, January 16th.

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.