Analyst Mark Palmer of Benchmark Co. maintained a Buy rating on I3 Verticals (IIIV – Research Report), retaining the price target of $33.00.
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Mark Palmer has given his Buy rating due to a combination of factors including i3 Verticals’ strong financial performance in the most recent quarter. The company reported higher-than-expected revenue and adjusted EBITDA, both demonstrating significant year-over-year growth. This positive financial performance exceeded market expectations and reinforced confidence in the company’s operational efficiency.
Moreover, Palmer highlights the notable progress in i3 Verticals’ SaaS and payment segments, which have shown robust growth. The management’s optimistic outlook for future quarters, with expectations of accelerating growth in payments revenue, further justifies the Buy rating. Additionally, the reaffirmation of FY25 guidance by i3 Verticals’ management underscores their confidence in achieving their financial targets, supporting Palmer’s positive assessment.
In another report released on January 29, D.A. Davidson also maintained a Buy rating on the stock with a $32.00 price target.
IIIV’s price has also changed slightly for the past six months – from $23.720 to $25.680, which is a 8.26% increase.