Time to surrender Performant Financial Corp. (NASDAQ:PFMT)?


Some 2 analysts have recommended on the stock of Performant Financial Corp. (NASDAQ:PFMT) so far and from them the equity has an average call of Hold. But what does that indicate? It deciphers analysts? recommendations; shareholders should know that 1.00 – 1.24 implies that a stock is a BUY. Call of 1.75 – 2.24 implies that an equity is a HOLD. SELL recommendation is represented by numbers 2.75 – 3.00.

Let’s look into the technical of the stock

The Barchart Technical Opinion rating is a 48% Sell with a Average short term outlook on maintaining the current direction. Longer term, the trend strength is Strong. Long term indicators mostly agree with the trend.

As for the price, analysts project that shares of Performant Financial Corp. will be trading around $3.00 in the next 12 months.

The stock price is influenced by the financial performance and represents investors opinion of its future. That being the case, shareholders should recall that Performant Financial Corp. posted EPS of $(0.06) in its recent quarter.

The firm recorded the EPS from sales of 33.11M%, which increased -0.16% from a same period a year ago.

Performant Financial Corp. incurred expenses totaling $34.14M to produce the revenue. Gross profit, which is computed by deducting cost of sales from sales, was $(1.03M).

Analysts on the average are projecting Performant Financial Corp. to post EPS of $-0.01 in the ongoing quarter.

Does Performant Financial Corp. have the capacity to surpass expectations? Casting an eye on the firm’s liquidity position, you note that the firm generated net cash of $401,000 from its operations in the previous quarter, resulting in free cash flow of $(2.42M). Net change in cash came at $(6.02M).

Furthermore, the firm’s asset position was $181.22M at the close of the latest quarter. But Performant Financial Corp. is carrying liabilities totaling $97.09M.

The firm ended the latest quarter with diluted due shares of 50.3M.

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