Privia Health Group (NASDAQ:PRVA) Earns Overweight Rating from Stephens

Key Points

• Privia Health Group's stock received an "overweight" rating from Stephens with a target price of $32.00, suggesting a potential upside of 38.11% from its current price.
• Despite reporting $0.02 earnings per share for the last quarter, which missed the consensus estimate, the company's revenue increased by 23.4% year-over-year to $521.15 million.
• Institutional investors own 94.48% of the company, with State Street Corp and Geode Capital Management among those increasing their positions recently.

Privia Health Group (NASDAQ:PRVA - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $32.00 price target on the stock. Stephens' target price would suggest a potential upside of 35.65% from the stock's current price.

A number of other brokerages also recently weighed in on PRVA. Piper Sandler lowered their price target on Privia Health Group from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Monday, August 11th. JMP Securities lifted their price objective on Privia Health Group from $29.00 to $30.00 and gave the company a "market outperform" rating in a research report on Friday, August 29th. Zacks Research raised Privia Health Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Evercore ISI reduced their price objective on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Privia Health Group presently has an average rating of "Moderate Buy" and an average target price of $28.58.

Privia Health Group Stock Performance

Shares of PRVA stock traded up $0.31 on Thursday, reaching $23.59. 1,077,713 shares of the company's stock traded hands, compared to its average volume of 841,349. Privia Health Group has a 12-month low of $16.47 and a 12-month high of $26.09. The company has a market capitalization of $2.90 billion, a P/E ratio of 214.47, a price-to-earnings-growth ratio of 3.37 and a beta of 0.82. The business's 50 day moving average price is $21.04 and its two-hundred day moving average price is $22.56.

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

Institutional Trading of Privia Health Group

A number of institutional investors and hedge funds have recently made changes to their positions in PRVA. Price T Rowe Associates Inc. MD lifted its position in shares of Privia Health Group by 15.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,416 shares of the company's stock worth $1,436,000 after buying an additional 9,880 shares during the last quarter. Northern Trust Corp lifted its position in shares of Privia Health Group by 14.2% in the fourth quarter. Northern Trust Corp now owns 1,392,641 shares of the company's stock worth $27,226,000 after buying an additional 173,563 shares during the last quarter. Algert Global LLC lifted its position in shares of Privia Health Group by 639.1% in the fourth quarter. Algert Global LLC now owns 108,048 shares of the company's stock worth $2,112,000 after buying an additional 93,429 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Privia Health Group in the fourth quarter worth about $4,321,000. Finally, Bank of America Corp DE lifted its position in shares of Privia Health Group by 5.1% in the fourth quarter. Bank of America Corp DE now owns 1,021,763 shares of the company's stock worth $19,975,000 after buying an additional 49,389 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

About Privia Health Group

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.