Performant Healthcare (PHLT) Expected to Announce Quarterly 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 anticipated 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 quarterly earnings results on Thursday, May 8th. The company reported $0.02 earnings per share for the quarter, beating 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 business had revenue of $33.27 million during the quarter, compared to analysts' expectations 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 Trading Up 115.2%

Shares of Performant Healthcare stock traded up $4.09 during mid-day trading on Friday, hitting $7.64. The stock had a trading volume of 16,799,643 shares, compared to its average volume of 188,578. The firm has a 50-day moving average of $3.69 and a two-hundred day moving average of $2.94. Performant Healthcare has a 12-month low of $2.17 and a 12-month high of $7.74. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.10. The firm has a market cap of $598.29 million, a P/E ratio of -95.50 and a beta of 0.41.

Insider Buying and Selling

In related news, Director Lisa Im sold 180,867 shares of Performant Healthcare stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $3.25, for a total transaction of $587,817.75. Following the sale, the director directly owned 1,229,413 shares in the company, valued at $3,995,592.25. This trade represents a 12.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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