BTIG Thinks Verra Mobility’s Stock is Going to Recover

In a report released today, Mark Palmer from BTIG reiterated a Buy rating on Verra Mobility (VRRMResearch Report), with a price target of $13.00. The company’s shares closed last Friday at $7.26, close to its 52-week low of $5.64.

According to TipRanks.com, Palmer is a top 100 analyst with an average return of 12.9% and a 66.8% success rate. Palmer covers the Financial sector, focusing on stocks such as International Money Express, Genworth Financial, and MGIC Investment.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Verra Mobility with a $12.60 average price target.

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Based on Verra Mobility’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $112 million and net profit of $9.18 million. In comparison, last year the company earned revenue of $370 million and had a GAAP net loss of $56.96 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VRRM in relation to earlier this year.

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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.