Performant Financial Corp (PFMT) Releases Earnings Results, Beats Expectations By $0.03 EPS

Performant Financial Corp (PFMT) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.01. The company posted revenue of $38.30 million in the period, compared to analysts expectations of $36.00 million. The company’s revenue was down -.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Performant Financial Corp. Shares were Reiterated by Compass Point on Feb 26, 2016 to “Neutral” and Lowered the Price Target to $ 2.50 from a previous price target of $3 .

Performant Financial Corp closed down -0.02 points or -1.12% at $1.77 with 27,037 shares getting traded on Monday. Post opening the session at $1.8, the shares hit an intraday low of $1.77 and an intraday high of $1.87 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 4, 2015, Lisa Im (CEO) purchased 10,800 shares at $4.62 per share price.

Performant Financial Corporation provides 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 in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes. The Company derives its revenues from services for clients in a variety of different markets. These markets include its two markets student lending and healthcare as well as other markets which include delinquent state taxes and federal Treasury and other receivables. Its data analytics capabilities screen and allocate volumes of recovery inventory. In the healthcare market it analyzes Medicare claims to find correlations between claims data and improper payments. The Company utilizes its analytics tools to test workflow processes in real-time.

Performant Financial Corp

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