Privia Health Group, Inc. (NASDAQ:PRVA) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Privia Health Group, Inc. has received a consensus recommendation of "Buy" from twelve brokerages, with an average price target of $28.00.
• In its latest quarterly earnings report, Privia missed analysts' EPS estimates, reporting $0.02 compared to the expected $0.05, even though revenue grew significantly to $521.15 million.
• Institutional investors hold a significant majority of the company's stock, with 94.48% ownership, indicating strong institutional confidence in Privia Health Group's potential.

Shares of Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) have received a consensus recommendation of "Buy" from the twelve brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.00.

A number of brokerages have commented on PRVA. JPMorgan Chase & Co. raised their price target on shares of Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Piper Sandler dropped their price objective on shares of Privia Health Group from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, August 11th. Barclays raised their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. JMP Securities reaffirmed a "market outperform" rating and set a $29.00 price objective on shares of Privia Health Group in a report on Monday, April 28th. Finally, Evercore ISI dropped their price objective on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating for the company in a report on Wednesday, July 9th.

Institutional Trading of Privia Health Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Privia Health Group by 2.4% in the first quarter. US Bancorp DE now owns 18,487 shares of the company's stock valued at $415,000 after purchasing an additional 429 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Privia Health Group by 3.6% during the 1st quarter. Park Avenue Securities LLC now owns 15,229 shares of the company's stock worth $342,000 after acquiring an additional 532 shares during the period. Bank of Montreal Can grew its holdings in Privia Health Group by 1.9% during the 2nd quarter. Bank of Montreal Can now owns 28,694 shares of the company's stock worth $660,000 after acquiring an additional 543 shares during the period. CWM LLC grew its holdings in Privia Health Group by 50.3% during the 1st quarter. CWM LLC now owns 1,804 shares of the company's stock worth $40,000 after acquiring an additional 604 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in Privia Health Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,673 shares of the company's stock worth $209,000 after acquiring an additional 678 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $21.15 on Thursday. The firm has a 50-day simple moving average of $20.98 and a 200 day simple moving average of $22.72. Privia Health Group has a twelve month low of $16.47 and a twelve month high of $26.09. The stock has a market cap of $2.60 billion, a PE ratio of 192.29, a PEG ratio of 3.07 and a beta of 0.80.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). The business had revenue of $521.15 million for the quarter, compared to the consensus estimate of $466.97 million. Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%.The firm's revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 EPS. Privia Health Group has set its FY 2025 guidance at EPS. Research analysts forecast that Privia Health Group will post 0.14 earnings per share for the current fiscal year.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.

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