Morgan Stanley analyst James Faucette maintained a Hold rating on I3 Verticals today and set a price target of $30.00.
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James Faucette has given his Hold rating due to a combination of factors that reflect both the strengths and current valuation of I3 Verticals. The company’s recent performance has been strong, with a notable 10% increase in stock price driven by high single-digit organic growth and successful acquisitions. This growth has bolstered investor confidence in I3 Verticals’ transition to a focused Public Sector software company, especially with the promising performance in the JusticeTech sub-vertical.
Despite these positive developments, the stock’s year-to-date increase of approximately 35% suggests that the improved clarity and business momentum are already priced into the current valuation. While the company’s strategic repositioning and acquisition-driven growth are encouraging, the present stock price reflects these advancements, leading to a Hold rating as the potential for further upside may be limited in the near term.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IIIV in relation to earlier this year.