I3 Verticals (IIIV) Received its Third Buy in a Row
After Piper Sandler and BTIG gave I3 Verticals (NASDAQ: IIIV) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst John Davis maintained a Buy rating on I3 Verticals today and set a price target of $40.00. The company’s shares closed last Thursday at $29.90.
According to TipRanks.com, Davis is a 5-star analyst with an average return of 18.0% and a 76.5% success rate. Davis covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Bottomline Technologies, and Fidelity National Info.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for I3 Verticals with a $36.40 average price target, a 20.5% upside from current levels. In a report issued on January 6, BTIG also reiterated a Buy rating on the stock with a $37.00 price target.
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Based on I3 Verticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $38.27 million and GAAP net loss of $651K. In comparison, last year the company earned revenue of $109 million and had a GAAP net loss of $930K.
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i3 Verticals, Inc. is a holding company, which engages in the provision of integrated payment and software solutions to small-and medium-sized businesses and organizations in strategic vertical markets. It operates through the following segments: Merchant Services, Proprietary Software and Payments, and Others. The Merchant Services segment offers comprehensive payment solutions to businesses and organizations. The Proprietary Software and Payments segment delivers embedded payment solutions to clients through company-owned software. The Other segment covers corporate overhead expenses. The company was founded on January 17, 2018 and is headquartered in Nashville, TN.