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Performant Financial Corp (NASDAQ:PFMT) was upgraded by research analysts at TheStreet from a “sell” rating to a “hold” rating in a report released on Thursday.

The analysts wrote, “Performant Financial (PFMT) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and poor profit margins.”

Shares of Performant Financial Corp (NASDAQ:PFMT) traded up 3.34% on Thursday, hitting $9.90. 83,661 shares of the company’s stock traded hands. Performant Financial Corp has a 52-week low of $7.11 and a 52-week high of $12.47. The stock has a 50-day moving average of $8.86 and a 200-day moving average of $9.11. The company has a market cap of $479.7 million and a price-to-earnings ratio of 11.57.

Performant Financial Corp (NASDAQ:PFMT) last posted its quarterly earnings results 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 $0.43 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Performant Financial Corp from $8.00 to $9.00 in a research note on Friday, May 9th. Separately, 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. Finally, 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.67.

Performant Financial Corporation (NASDAQ:PFMT) provide technology-enabled recovery and related analytics services in the United States.

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