Privia Health Group's (PRVA) Overweight Rating Reiterated at Stephens

Key Points

• Privia Health Group's stock has been given an "overweight" rating by Stephens, with a target price of $32.00, indicating a potential upside of 36.29%.
• The company reported a 23.4% year-over-year revenue increase with a revenue of $521.15 million for the quarter, although it missed earnings estimates with $0.02 earnings per share.
• About 94.48% of Privia Health Group's stock is owned by institutional investors, showcasing strong institutional interest in the company.

Privia Health Group (NASDAQ:PRVA - Get Free Report)'s stock had its "overweight" rating reaffirmed by Stephens in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $32.00 target price on the stock. Stephens' target price indicates a potential upside of 36.29% from the stock's current price.

A number of other equities research analysts have also recently commented on the company. Piper Sandler lowered their target price on Privia Health Group from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Monday, August 11th. Barclays lifted their target price on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Citigroup reiterated an "outperform" rating on shares of Privia Health Group in a research note on Friday, August 29th. Evercore ISI lowered their target price on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.58.

Privia Health Group Trading Up 2.5%

Shares of NASDAQ:PRVA opened at $23.48 on Wednesday. The stock's fifty day simple moving average is $21.33 and its two-hundred day simple moving average is $22.40. Privia Health Group has a 1-year low of $16.47 and a 1-year high of $26.09. The stock has a market cap of $2.88 billion, a PE ratio of 213.47, a price-to-earnings-growth ratio of 3.32 and a beta of 0.82.

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

Institutional Investors Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its position in shares of Privia Health Group by 1.7% during the second quarter. Thrivent Financial for Lutherans now owns 77,099 shares of the company's stock valued at $1,773,000 after buying an additional 1,296 shares during the period. State of Wyoming grew its holdings in shares of Privia Health Group by 162.6% during the second quarter. State of Wyoming now owns 32,320 shares of the company's stock worth $743,000 after purchasing an additional 20,010 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Privia Health Group during the second quarter worth about $329,000. Public Sector Pension Investment Board grew its holdings in shares of Privia Health Group by 9.2% during the second quarter. Public Sector Pension Investment Board now owns 357,503 shares of the company's stock worth $8,223,000 after purchasing an additional 30,256 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Privia Health Group by 601.7% during the second quarter. Tower Research Capital LLC TRC now owns 10,547 shares of the company's stock worth $243,000 after purchasing an additional 9,044 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

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.

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