BTIG analyst Mark Palmer reiterated a Buy rating on Verra Mobility (VRRM – Research Report) today and set a price target of $19.00. The company’s shares closed last Monday at $14.40, close to its 52-week high of $15.38.
According to TipRanks.com, Palmer is a 5-star analyst with an average return of 21.9% and a 66.7% success rate. Palmer covers the Financial sector, focusing on stocks such as International Money Express, Oportun Financial, and Western Union.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Verra Mobility with a $16.50 average price target.
Based on Verra Mobility’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $100 million and GAAP net loss of $1.42 million. In comparison, last year the company earned revenue of $112 million and had a net profit of $9.18 million.
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Verra Mobility Corp. engages in the provision of smart mobility technology solutions and services. It operates through the Government Solutions and Commercial Services segments. The Government Solutions segment delivers traffic law enforcement services and products to state and local governments. The Commercial Services segment offers tolling and violation management services to rental car companies, commercial fleet vehicle owners, and violation issuing authorities. The company was founded on August 15, 2016 and is headquartered in Mesa, AZ.