Stock On Watch: Performant Financial Corp Just Reaches 52-Week High?

Stock On Watch: Performant Financial Corp Just Reaches 52 Week High?

The stock of Performant Financial Corp (NASDAQ:PFMT) hit a new 52-week high and has $6.04 target or 72.00% above today’s $3.51 share price. The 5 months bullish chart indicates low risk for the $169.39 million company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $6.04 price target is reached, the company will be worth $121.96M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 96,348 shares traded hands or 94.94% up from the average. Performant Financial Corp (NASDAQ:PFMT) has risen 77.65% since March 30, 2016 and is uptrending. It has outperformed by 74.63% the S&P500.

Analysts await Performant Financial Corp (NASDAQ:PFMT) to report earnings on November, 2. They expect $-0.06 EPS, down 700.00% or $0.07 from last year’s $0.01 per share. After $0.05 actual EPS reported by Performant Financial Corp for the previous quarter, Wall Street now forecasts -220.00% negative EPS growth.

According to Zacks Investment Research, “Performant Financial Corporation is engaged in providing technology-enabled recovery and related analytics services in the United States. The company’s services help identify and recover delinquent or defaulted assets and improper payments for both government and private clients. Services offered by the company includes financial asset recovery, risk management, audit and recovery cost containment and fraud, waste and abuse marketplace. Performant provides its services on an outsourced basis. It provides services to clients in a range of different markets which includes student lending and healthcare, delinquent state taxes and federal Treasury and other receivables. Performant Financial Corporation is headquartered in Livermore, California.”

More important recent Performant Financial Corp (NASDAQ:PFMT) news were published by: Seekingalpha.com which released: “Performant Financial Corp. (PFMT) CEO Lisa Im on Q2 2016 Results – Earnings …” on August 04, 2016, also Globenewswire.com published article titled: “Performant Financial Corporation Announces Financial Results for Fourth …”, Quotes.Wsj.com published: “News Performant Financial Corp.PFMT” on August 08, 2012. More interesting news about Performant Financial Corp (NASDAQ:PFMT) was released by: Globenewswire.com and their article: “Performant Financial Corporation to Acquire Premier Healthcare Exchange, Inc.” with publication date: January 28, 2015.

PFMT Company Profile

Performant Financial Corporation (Performant), incorporated on October 8, 2003, provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Firm provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes. The Firm uses its technology-enabled services platform to provide recovery and analytics services in a range of markets for the identification and recovery of student loans, improper healthcare payments and delinquent state tax and federal treasury receivables.

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