Performant Healthcare, Inc. (NASDAQ:PHLT) Receives $7.88 Consensus Price Target from Brokerages

Shares of Performant Healthcare, Inc. (NASDAQ:PHLT) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.8750.

PHLT has been the subject of a number of recent research reports. B. Riley lowered shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Performant Healthcare in a research report on Wednesday, October 8th. Lake Street Capital cut Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 price objective on the stock. in a report on Monday, August 4th. Citizens Jmp downgraded Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Finally, Wall Street Zen cut Performant Healthcare from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Prescott Group Capital Management L.L.C. bought a new position in shares of Performant Healthcare in the second quarter worth $63,173,000. First Light Asset Management LLC bought a new position in Performant Healthcare in the 2nd quarter worth about $52,682,000. Topline Capital Management LLC purchased a new stake in shares of Performant Healthcare in the 2nd quarter valued at about $21,850,000. Magnetar Financial LLC bought a new stake in shares of Performant Healthcare during the 3rd quarter valued at about $21,401,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Performant Healthcare during the 2nd quarter valued at about $10,817,000. 77.15% of the stock is owned by institutional investors.

Performant Healthcare Price Performance

NASDAQ PHLT opened at $7.75 on Friday. The company has a market cap of $623.41 million, a PE ratio of -775.00 and a beta of 0.69. Performant Healthcare has a 52 week low of $2.17 and a 52 week high of $7.76. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $7.72 and its two-hundred day simple moving average is $5.66.

Performant Healthcare (NASDAQ:PHLT) last posted its earnings results on Tuesday, March 15th. The company reported $0.08 earnings per share for the quarter. Performant Healthcare had a negative net margin of 0.64% and a negative return on equity of 0.04%. The firm had revenue of $40.04 million during the quarter. Research analysts predict that Performant Healthcare will post -0.13 earnings per share for the current year.

About Performant Healthcare

Performant Healthcare, Inc engages in the provision of technology-enabled audit, recovery, customer care, and related analytics services. Its services help identify improper payments, and in some markets, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients.