Performant Financial (PFMT) Set to Announce Earnings on Wednesday

Posted by Chris Copeland on Nov 4th, 2024

Performant Financial (NASDAQ:PFMT – Get Free Report) will be announcing its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Performant Financial (NASDAQ:PFMT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Performant Financial had a negative return on equity of 8.11% and a negative net margin of 5.32%. The business had revenue of $29.36 million during the quarter, compared to the consensus estimate of $28.20 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, analysts expect Performant Financial to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Performant Financial Trading Up 1.8 %

PFMT opened at $3.96 on Monday. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 0.11. Performant Financial has a twelve month low of $2.14 and a twelve month high of $4.04. The stock has a market capitalization of $305.67 million, a price-to-earnings ratio of -49.49 and a beta of 0.14. The company has a 50-day simple moving average of $3.72 and a 200 day simple moving average of $3.28.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Craig Hallum upgraded shares of Performant Financial to a “strong-buy” rating in a research report on Tuesday, October 1st. B. Riley started coverage on Performant Financial in a research note on Thursday, July 25th. They set a “buy” rating and a $8.00 target price for the company.

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About Performant Financial

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Performant Financial Corporation provides technology-enabled audit, recovery, and analytics services in the United States. The company identifies improper payments resulting from incorrect coding, procedures that were not medically necessary, incomplete documentation or claims submitted based on outdated fee schedules, and coverage discrepancies; and provides first party call center and other outsourced services.