Analysts Set Performant Healthcare, Inc. (NASDAQ:PHLT) Target Price at $7.88

Shares of Performant Healthcare, Inc. (NASDAQ:PHLT) have received an average rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.8750.

Several brokerages recently commented on PHLT. JMP Securities initiated coverage on Performant Healthcare in a report on Thursday, July 10th. They issued a “market outperform” rating and a $8.00 price objective for the company. Wall Street Zen downgraded Performant Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Craig Hallum lowered shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating and set a $7.75 price target for the company. in a research report on Monday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Performant Healthcare in a research note on Wednesday, October 8th. Finally, Lake Street Capital lowered shares of Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 target price for the company. in a research report on Monday, August 4th.

Performant Healthcare Stock Up 0.3%

PHLT opened at $7.75 on Monday. The stock has a market capitalization of $623.41 million, a price-to-earnings ratio of -775.00 and a beta of 0.69. The firm has a 50 day moving average price of $7.68 and a 200-day moving average price of $5.08. Performant Healthcare has a twelve month low of $2.17 and a twelve month high of $7.76. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.10.

Performant Healthcare (NASDAQ:PHLT) last posted its earnings results on Tuesday, March 15th. The company reported $0.08 EPS for the quarter. The business had revenue of $40.04 million during the quarter. Performant Healthcare had a negative net margin of 0.64% and a negative return on equity of 0.04%. Equities research analysts forecast that Performant Healthcare will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Performant Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Performant Healthcare during the second quarter valued at $28,000. Legal & General Group Plc bought a new position in shares of Performant Healthcare in the second quarter worth about $30,000. WINTON GROUP Ltd purchased a new position in shares of Performant Healthcare during the 2nd quarter valued at about $52,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Performant Healthcare during the 2nd quarter valued at approximately $57,000. Finally, ProShare Advisors LLC bought a new position in shares of Performant Healthcare during the 2nd quarter valued at approximately $58,000. 77.15% of the stock is currently owned by hedge funds and other institutional investors.

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.