In yesterday’s Wall Street session, Verra Mobility Corporation (NASDAQ:VRRM) shares traded at $17.97, down -0.99% from the previous session.
As of this writing, 7 analysts cover Verra Mobility Corporation (NASDAQ:VRRM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $26.00 and a low of $18.00, we find $24.00. Given the previous closing price of $18.15, this indicates a potential upside of 32.23 percent. VRRM stock price is now -9.33% away from the 50-day moving average and 5.14% away from the 200-day moving average. The market capitalization of the company currently stands at $3.04B.
There are 2 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $23.33 as their price target over the next twelve months.
With the price target enhanced from $21 to $26, Deutsche Bank Upgraded its rating from Hold to Buy for Verra Mobility Corporation (NASDAQ: VRRM).
In other news, Conti Craig C, EVP and CFO sold 37,780 shares of the company’s stock on Aug 17. The stock was sold for $723,196 at an average price of $19.14. Upon completion of the transaction, the EVP and CFO now directly owns 27,906 shares in the company, valued at $0.5 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 08, EVP Commercial Services Lalla Steve sold 48,000 shares of the business’s stock. A total of $834,416 was realized by selling the stock at an average price of $17.38. This leaves the insider owning 4,697 shares of the company worth $84405.09. Insiders disposed of 315,308 shares of company stock worth roughly $5.67 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VRRM stock. A new stake in Verra Mobility Corporation shares was purchased by PLATINUM EQUITY ADVISORS, LLC/DE during the first quarter worth $44,925,000. LORD, ABBETT & CO. LLC invested $25,259,000 in shares of VRRM during the first quarter. In the first quarter, EDENTREE ASSET MANAGEMENT LTD acquired a new stake in Verra Mobility Corporation valued at approximately $7,372,000. SKAANA MANAGEMENT L.P. acquired a new stake in VRRM for approximately $4,460,000. CORIENT PRIVATE WEALTH LLC purchased a new stake in VRRM valued at around $3,303,000 in the second quarter. In total, there are 330 active investors with 119.69% ownership of the company’s stock.
During the past 12 months, Verra Mobility Corporation has had a low of $12.76 and a high of $21.54. As of last week, the company has a debt-to-equity ratio of 2.45, a current ratio of 3.00, and a quick ratio of 2.90. According to the stock market information, the enterprise value for the company is $4.02B, which is based on a 36.45 price-to-earnings ratio, a 3.58 price-to-earnings-growth ratio, and a beta of 1.23. The fifty day moving average price for VRRM is $19.80 and a two-hundred day moving average price translates $17.11 for the stock.
The latest earnings results from Verra Mobility Corporation (NASDAQ: VRRM) was released for Jun, 2023. According to the Infrastructure Operations Company, earnings per share came in at $0.29, beating analysts’ expectations of $0.27 by 0.02. This compares to $0.18 EPS in the same period last year. The net profit margin was 9.80% and return on equity was 27.10% for VRRM. The company reported revenue of $204.46 million for the quarter, compared to $187.49 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.05 percent. For the current quarter, analysts expect VRRM to generate $208.47M in revenue.
Verra Mobility Corporation(VRRM) Company Profile
Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners. The Government Solutions segment offers automated safety solutions to national, state, and local government agencies, including services and technologies that enable photo enforcement through road safety cameras to detect and process traffic violations for red-light, speed, school bus, and city bus lanes. This segment serves municipalities, counties, school districts, and law enforcement agencies. The Parking Solutions segment provides an integrated suite of parking software and hardware solutions to universities, municipalities, parking operators, healthcare facilities, and transportation hubs. The company was incorporated in 2016 and is headquartered in Mesa, Arizona.
