Verra Mobility (VRRM) Gets a Buy Rating from BTIG

BTIG analyst Mark Palmer reiterated a Buy rating on Verra Mobility (VRRMResearch Report) today and set a price target of $13.00. The company’s shares closed last Tuesday at $8.18.

According to TipRanks.com, Palmer is a top 100 analyst with an average return of 13.4% and a 66.2% success rate. Palmer covers the Financial sector, focusing on stocks such as Genworth Financial, MGIC Investment, and Repay Holdings.

Currently, the analyst consensus on Verra Mobility is a Strong Buy with an average price target of $13.60, which is a 63.1% upside from current levels. In a report issued on April 7, Deutsche Bank also maintained a Buy rating on the stock with a $10.00 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.