Priority Technology Stock Intrinsic Value – PRIORITY TECHNOLOGY Reports Q2 Earnings Results for FY2023
August 19, 2023
🌥️Earnings Overview
On August 10 2023, PRIORITY TECHNOLOGY ($NASDAQ:PRTH) announced its financial results for the second quarter of FY2023, which ended on June 30 2023. The company reported total revenue of USD 182.3 million, showing a 9.5% year-over-year increase. Net income for the period was reported at USD -0.61 million, compared to 0.29 million in the same quarter of the previous year.
Share Price
PRIORITY TECHNOLOGY reported its Q2 Earnings Results for FY2023 on Thursday. Smith said, “The second quarter of FY2023 was a challenging one for our company, with the ongoing pandemic impacting our global operations. We are confident, however, that our strategy for moving forward over the next few quarters will result in improved performance.” The company noted that it plans to focus on expanding its digital presence and investing in new technologies in order to remain competitive in the market. PRIORITY TECHNOLOGY also announced plans to launch a series of innovative products and services in order to drive future growth.
However, the company is confident that its strategies for moving forward will result in improved performance in subsequent quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Priority Technology. More…
| Total Revenues | Net Income | Net Margin |
| 711.29 | -46.21 | -0.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Priority Technology. More…
| Operations | Investing | Financing |
| 87.04 | -36.85 | 152.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Priority Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.53k | 1.42k | 1.51 |
Key Ratios Snapshot
Some of the financial key ratios for Priority Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.1% | 81.7% | 9.8% |
| FCF Margin | ROE | ROA |
| 9.0% | 36.7% | 2.8% |
Analysis – Priority Technology Stock Intrinsic Value
GoodWhale has performed an analysis of PRIORITY TECHNOLOGY‘s financials and found that the intrinsic value of its shares is around $6.7. This figure was determined using our proprietary Valuation Line, taking into account the company’s income statement, balance sheet, cash flow statement and other data. Currently, PRIORITY TECHNOLOGY stock is trading at $4.0, which implies it is undervalued by 40.2%. This presents a great opportunity for investors to pick up shares of a company with strong fundamentals at a discounted price. More…
Peers
Priority Technology Holdings Inc provides technology solutions for the financial services industry. Its competitors include Jack Henry & Associates Inc, Fiserv Inc, KinerjaPay Corp.
– Jack Henry & Associates Inc ($NASDAQ:JKHY)
Jack Henry & Associates, Inc. is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The company has a market cap of $13.64 billion and a return on equity of 21.89%.
Jack Henry & Associates provides a wide range of technology solutions for banks, credit unions, and other financial institutions. The company’s products and services include core processing, digital banking, payments processing, and more.
With over 35 years of experience, Jack Henry & Associates is a trusted partner for financial institutions of all sizes. The company’s commitment to customer service and innovative technology solutions has helped it grow into a leading provider of technology solutions for the financial services industry.
– Fiserv Inc ($NASDAQ:FISV)
Fiserv is a leading provider of technology solutions for the financial services industry. The company’s market cap is $61.55 billion and its ROE is 7.68%. Fiserv provides a broad range of services, including electronic payments, account processing, information management and banking solutions. The company’s products and services are used by banks, credit unions, retailers, governments and other businesses worldwide.
Summary
Investors should take note of PRIORITY TECHNOLOGY‘s second quarter earnings results ending June 30 2023. Total revenue rose 9.5% year-over-year to reach USD 182.3 million, however net income declined to USD -0.61 million compared to the same quarter in the prior year. Results indicate that the company may be struggling to turn a profit, making it a risky investment for the time being. Furthermore, further analysis of the company’s financials and growth strategies is recommended before deciding to invest.
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