Privia Health Group, Inc. (NASDAQ:PRVA) Receives $24.86 Average Price Target from Brokerages

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.86.

A number of research firms recently weighed in on PRVA. Truist Financial decreased their price target on Privia Health Group from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Evercore ISI cut their price target on shares of Privia Health Group from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. Baird R W upgraded shares of Privia Health Group to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays lowered their target price on shares of Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, May 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price target on shares of Privia Health Group in a research report on Wednesday, August 14th.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in shares of Privia Health Group by 61.3% during the fourth quarter. New York State Common Retirement Fund now owns 45,100 shares of the company’s stock valued at $1,039,000 after buying an additional 17,134 shares during the period. Truist Financial Corp boosted its holdings in shares of Privia Health Group by 12.3% during the fourth quarter. Truist Financial Corp now owns 17,377 shares of the company’s stock worth $400,000 after purchasing an additional 1,899 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Privia Health Group by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 31,350 shares of the company’s stock worth $722,000 after purchasing an additional 7,336 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Privia Health Group by 6.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 40,508 shares of the company’s stock valued at $933,000 after purchasing an additional 2,465 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Privia Health Group in the fourth quarter valued at $158,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Stock Performance

Shares of Privia Health Group stock opened at $18.26 on Thursday. The company has a market cap of $2.18 billion, a P/E ratio of 121.73, a PEG ratio of 4.36 and a beta of 0.78. The firm has a fifty day moving average of $19.32 and a two-hundred day moving average of $18.81. Privia Health Group has a one year low of $15.92 and a one year high of $25.92.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. The firm had revenue of $422.30 million for the quarter, compared to analysts’ expectations of $411.50 million. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts predict that Privia Health Group will post 0.16 earnings per share for the current year.

About Privia Health Group

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.