Performant Healthcare, Inc. (NASDAQ:PHLT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Performant Healthcare, Inc. (NASDAQ:PHLT) have been given an average rating of “Hold” by the six analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.8750.

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Performant Healthcare in a research note on Wednesday, October 8th. Lake Street Capital downgraded Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 price target on the stock. in a research report on Monday, August 4th. B. Riley downgraded Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 4th. Craig Hallum downgraded Performant Healthcare from a “strong-buy” rating to a “hold” rating and set a $7.75 price target on the stock. in a research report on Monday, August 4th. Finally, Wall Street Zen downgraded Performant Healthcare from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd.

Performant Healthcare Price Performance

NASDAQ:PHLT opened at $7.73 on Monday. The firm has a market capitalization of $621.80 million, a price-to-earnings ratio of -773.00 and a beta of 0.69. Performant Healthcare has a 52-week low of $2.17 and a 52-week high of $7.75. The stock has a fifty day moving average of $7.67 and a 200 day moving average of $4.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.64 and a current ratio of 2.64.

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

Institutional Investors Weigh In On Performant Healthcare

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Performant Healthcare during the second quarter valued at about $28,000. Legal & General Group Plc purchased a new position in shares of Performant Healthcare in the second quarter worth about $30,000. WINTON GROUP Ltd purchased a new position in shares of Performant Healthcare in the second quarter worth about $52,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Performant Healthcare in the second quarter worth about $57,000. Finally, ProShare Advisors LLC purchased a new position in shares of Performant Healthcare in the second quarter worth about $58,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.

Performant Healthcare Company Profile

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.