Performant Financial Corp Stock Price Down 6.9% After Earnings Miss (PFMT)
Performant Financial Corp (NASDAQ:PFMT)’s share price was down 6.9% during trading on Friday following a dissappointing earnings announcement, ARN reports. The company traded as low as $8.50 and last traded at $9.24, with a volume of 114,363 shares changing hands. The stock had previously closed at $9.93.
The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $57.40 million for the quarter, compared to the consensus estimate of $57.94 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 17.1% on a year-over-year basis.
A number of analysts have recently weighed in on PFMT shares. Analysts at Compass Point raised their price target on shares of Performant Financial Corp from $11.00 to $12.00 in a research note on Tuesday, July 8th. They now have a “buy” rating on the stock. Separately, analysts at SunTrust reiterated a “buy” rating on shares of Performant Financial Corp in a research note on Wednesday, June 11th. They now have a $11.75 price target on the stock, up previously from $10.75. Finally, analysts at TheStreet upgraded shares of Performant Financial Corp from a “sell” rating to a “hold” rating in a research note on Thursday, June 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.19.
The stock has a 50-day moving average of $10.13 and a 200-day moving average of $9.00. The company has a market cap of $451.1 million and a price-to-earnings ratio of 11.99.
Performant Financial Corporation (NASDAQ:PFMT) provide technology-enabled recovery and related analytics services in the United States.
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