Performant Healthcare (PHLT) Projected to Post Earnings on Tuesday

Key Points

• Performant Healthcare is set to announce its quarterly earnings on August 5th, with analysts predicting a loss of ($0.03) per share and revenue of $31.13 million.
• In its last earnings report, the company reported earnings of $0.02 per share, exceeding expectations, and generated revenue of $33.27 million.
• Shares of Performant Healthcare have seen a 0.6% increase and are currently priced at $3.65, with some analysts issuing a buy rating and a target price of $8.00.

Performant Healthcare (NASDAQ:PHLT - Get Free Report) is expected to release its earnings data after the market closes on Tuesday, August 5th. Analysts expect Performant Healthcare to post earnings of ($0.03) per share and revenue of $31.13 million for the quarter.

Performant Healthcare (NASDAQ:PHLT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Performant Healthcare had a negative net margin of 4.62% and a negative return on equity of 6.68%. The firm had revenue of $33.27 million for the quarter, compared to the consensus estimate of $29.92 million. On average, analysts expect Performant Healthcare to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Performant Healthcare Stock Up 115.2%

Shares of NASDAQ:PHLT traded up $4.09 on Friday, reaching $7.64. The company had a trading volume of 16,799,643 shares, compared to its average volume of 285,513. Performant Healthcare has a twelve month low of $2.17 and a twelve month high of $7.74. The stock has a 50-day moving average price of $3.59 and a 200 day moving average price of $2.90. The stock has a market capitalization of $598.28 million, a P/E ratio of -95.50 and a beta of 0.37. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.10.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PHLT shares. Citizens Jmp started coverage on Performant Healthcare in a research report on Thursday, July 10th. They issued a "strong-buy" rating and a $8.00 price target for the company. JMP Securities started coverage on Performant Healthcare in a research report on Thursday, July 10th. They issued a "market outperform" rating and a $8.00 price target for the company. Finally, Wall Street Zen raised Performant Healthcare from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th.

Insider Activity at Performant Healthcare

In other news, Director Lisa Im sold 180,867 shares of Performant Healthcare stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $3.25, for a total value of $587,817.75. Following the transaction, the director directly owned 1,229,413 shares in the company, valued at approximately $3,995,592.25. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.20% of the company's stock.

About Performant Healthcare

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.