Performant Financial Co. (NASDAQ:PFMT) to Post Q1 2025 Earnings of ($0.02) Per Share, B. Riley Forecasts

Performant Financial Co. (NASDAQ:PFMT - Free Report) - Equities research analysts at B. Riley issued their Q1 2025 earnings estimates for shares of Performant Financial in a report issued on Friday, October 4th. B. Riley analyst K. Bauser expects that the business services provider will post earnings per share of ($0.02) for the quarter. B. Riley currently has a "Buy" rating and a $8.00 target price on the stock. The consensus estimate for Performant Financial's current full-year earnings is ($0.11) per share. B. Riley also issued estimates for Performant Financial's Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.00 EPS and Q4 2025 earnings at $0.02 EPS.

Performant Financial (NASDAQ:PFMT - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. Performant Financial had a negative return on equity of 8.11% and a negative net margin of 5.32%. The company had revenue of $29.36 million for the quarter, compared to the consensus estimate of $28.20 million. During the same period in the previous year, the business earned ($0.05) earnings per share.

Separately, Craig Hallum raised Performant Financial to a "strong-buy" rating in a report on Tuesday, October 1st.

Performant Financial Price Performance

PFMT stock traded down $0.07 during trading on Monday, hitting $3.49. The company had a trading volume of 59,194 shares, compared to its average volume of 183,480. The company has a fifty day moving average price of $3.62 and a two-hundred day moving average price of $3.14. Performant Financial has a fifty-two week low of $2.00 and a fifty-two week high of $4.04. The company has a market cap of $269.39 million, a P/E ratio of -38.77 and a beta of 0.13. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Performant Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC increased its position in Performant Financial by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 582,532 shares of the business services provider's stock valued at $1,713,000 after acquiring an additional 8,753 shares in the last quarter. Mirador Capital Partners LP grew its stake in shares of Performant Financial by 0.7% during the third quarter. Mirador Capital Partners LP now owns 2,065,131 shares of the business services provider's stock valued at $7,724,000 after purchasing an additional 13,936 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Performant Financial by 32.1% in the second quarter. Rhumbline Advisers now owns 84,953 shares of the business services provider's stock valued at $246,000 after purchasing an additional 20,637 shares in the last quarter. SG Americas Securities LLC bought a new position in Performant Financial in the 3rd quarter worth approximately $91,000. Finally, Bank of New York Mellon Corp lifted its holdings in Performant Financial by 18.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 200,208 shares of the business services provider's stock worth $581,000 after buying an additional 31,075 shares in the last quarter. 77.15% of the stock is owned by institutional investors and hedge funds.

About Performant Financial

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.