Sterling Check (NASDAQ:STER) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Sterling Check (NASDAQ:STERGet Rating) announced its quarterly earnings data on Tuesday. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04, MarketWatch Earnings reports. The company had revenue of $192.00 million for the quarter, compared to analyst estimates of $167.05 million. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. Sterling Check updated its FY 2022 guidance to EPS.

Shares of Sterling Check stock traded down $1.75 during trading hours on Tuesday, hitting $22.26. 4,182 shares of the company’s stock traded hands, compared to its average volume of 281,298. Sterling Check has a 12-month low of $17.27 and a 12-month high of $28.99. The company has a fifty day simple moving average of $24.49 and a 200-day simple moving average of $22.70. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Sterling Check from a “sell” rating to a “hold” rating in a report on Thursday, May 5th. Morgan Stanley cut Sterling Check from an “overweight” rating to an “equal weight” rating and set a $26.00 target price on the stock. in a report on Monday, April 11th. Robert W. Baird cut their target price on Sterling Check from $34.00 to $31.00 in a report on Thursday, March 3rd. Barclays dropped their price objective on Sterling Check from $28.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 16th. Finally, KeyCorp raised their price objective on Sterling Check from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, April 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Sterling Check has a consensus rating of “Buy” and an average target price of $28.78.

Institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC purchased a new stake in shares of Sterling Check during the 4th quarter valued at $513,000. Envestnet Asset Management Inc. increased its position in shares of Sterling Check by 36.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,659 shares of the company’s stock valued at $361,000 after purchasing an additional 3,617 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Sterling Check during the 4th quarter valued at $272,000. LPL Financial LLC purchased a new stake in shares of Sterling Check during the 4th quarter valued at $256,000. Finally, JPMorgan Chase & Co. increased its position in shares of Sterling Check by 1,290.0% during the 4th quarter. JPMorgan Chase & Co. now owns 9,980 shares of the company’s stock valued at $205,000 after purchasing an additional 9,262 shares during the last quarter. 85.46% of the stock is owned by hedge funds and other institutional investors.

Sterling Check Company Profile (Get Rating)

Sterling Check Corp. provides technology-enabled background and identity verification services in the United States, Canada, Europe, the Middle East and Africa, and the Asia Pacific. The company offers identity verification services, such as telecom and device verification, identification document verification, facial recognition with biometric matching, social security number verification, and live video chat identification proofing; fingerprinting; background checks, including criminal record checks, sex offender registries, civil court records, motor vehicle and driving license records, executive investigations, credit reports, social media searches, and contingent workforce solutions; liens, judgments, and bankruptcies; and sanctions, risk, and compliance checks.

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