Market Overview

UPDATE: Compass Point Initiates Performant Financial at Buy on Growth

Mid-Afternoon Market Update: Crude Oil Down Over 1%; Clovis Oncology Shares Spike Higher
10 Biggest Mid-Day Losers For Monday

Compass Point initiated coverage on Performant Financial (NASDAQ: PFMT) with a Buy rating and an $11 price target.

Compass Point commented, "We view Performant as an early-stage growth story: student lending leading indicators of originations, delinquencies, and defaults are all accelerating, while increasing Medicare spend creates a significant pipeline of error recovery volume. Regulatory and concentration risk remain, but we expect the company's steady performance and long-term relationships with the Department of Education (ED) and Centers for Medicare and Medicaid Services (CMS) bode well for the key upcoming contract renewals, setting the stage for meaningful placement growth for several years."

Performant Financial closed at $9.20 on Tuesday.

Latest Ratings for PFMT

Dec 2016Compass PointDowngradesBuyNeutral
Feb 2015Compass PointDowngradesBuyNeutral
Nov 2014MacquarieInitiates Coverage onNeutral

View More Analyst Ratings for PFMT
View the Latest Analyst Ratings

Posted-In: Compass PointAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (PFMT)

View Comments and Join the Discussion!