Performant Financial Corp Trading Up 9% After Analyst Upgrade (PFMT)
Performant Financial Corp (NASDAQ:PFMT)’s share price was up 9% during mid-day trading on Monday after Credit Suisse raised their price target on the stock from $8.00 to $9.00, Analyst Ratings Network reports. The stock traded as high as $9.48 and last traded at $9.45, with a volume of 210,910 shares trading hands. The stock had previously closed at $8.67.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sidoti initiated coverage on shares of Performant Financial Corp in a research note on Thursday, April 10th. They set a “buy” rating on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Performant Financial Corp in a research note on Monday, March 24th. They now have a $12.00 price target on the stock. Finally, analysts at SunTrust upgraded shares of Performant Financial Corp from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.67.
The stock has a 50-day moving average of $8.71 and a 200-day moving average of $9.22. The company has a market cap of $459.9 million and a P/E ratio of 10.47.
Performant Financial Corp (NASDAQ:PFMT) last released its earnings data on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.01. The company had revenue of $58.60 million for the quarter, compared to the consensus estimate of $56.73 million. Performant Financial Corp’s revenue was up 18.6% compared to the same quarter last year. Analysts expect that Performant Financial Corp will post $0.42 EPS for the current fiscal year.
Performant Financial Corporation (NASDAQ:PFMT) provide technology-enabled recovery and related analytics services in the United States.
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