Performant Financial (NASDAQ:PFMT) Releases Earnings Results, Meets Expectations

by · The Markets Daily

Performant Financial (NASDAQ:PFMT – Get Free Report) released its quarterly earnings data on Wednesday. The business services provider reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03), Zacks reports. Performant Financial had a negative net margin of 6.74% and a negative return on equity of 10.10%. The business had revenue of $31.52 million for the quarter, compared to analyst estimates of $31.70 million. During the same quarter last year, the firm earned ($0.01) EPS.

Performant Financial Stock Performance

NASDAQ:PFMT traded down $0.29 during mid-day trading on Friday, hitting $3.35. The stock had a trading volume of 381,136 shares, compared to its average volume of 177,508. The company’s 50 day simple moving average is $3.75 and its 200 day simple moving average is $3.32. The stock has a market cap of $258.59 million, a price-to-earnings ratio of -33.50 and a beta of 0.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.65 and a current ratio of 2.65. Performant Financial has a twelve month low of $2.37 and a twelve month high of $4.35.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PFMT shares. B. Riley cut their price target on shares of Performant Financial from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday. Craig Hallum raised shares of Performant Financial to a “strong-buy” rating in a research note on Tuesday, October 1st.

Check Out Our Latest Research Report on PFMT

Performant Financial Company Profile

(Get Free Report)

Performant Financial Corporation provides technology-enabled audit, recovery, and analytics services in the United States. The company identifies improper payments resulting from incorrect coding, procedures that were not medically necessary, incomplete documentation or claims submitted based on outdated fee schedules, and coverage discrepancies; and provides first party call center and other outsourced services.

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