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Privia Health (PRVA) Moves 7.4% Higher: Will This Strength Last?
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Privia Health (PRVA - Free Report) shares rallied 7.4% in the last trading session to close at $31.04. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.6% gain over the past four weeks.
Privia Health scored a strong price increase after company reiterated its adjusted EBITDA outlook for 2022, in its 8-K filing, dated Jul 01, 2022. During the last-reported first quarter earnings results, the company provided adjusted EBITDA guidance in the range of $52-$56 million in 2022, suggesting growth of 25.6%-35.3%.
This physician practice management company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -122.2%. Revenues are expected to be $312.04 million, up 38.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Privia Health, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PRVA going forward to see if this recent jump can turn into more strength down the road.
Privia Health is a member of the Zacks Medical Info Systems industry. One other stock in the same industry, Pulmonx Corporation (LUNG - Free Report) , finished the last trading session 10.9% higher at $17.02. LUNG has returned -18% over the past month.
Pulmonx Corporation's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.41. Compared to the company's year-ago EPS, this represents a change of -20.6%. Pulmonx Corporation currently boasts a Zacks Rank of #3 (Hold).
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Privia Health (PRVA) Moves 7.4% Higher: Will This Strength Last?
Privia Health (PRVA - Free Report) shares rallied 7.4% in the last trading session to close at $31.04. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.6% gain over the past four weeks.
Privia Health scored a strong price increase after company reiterated its adjusted EBITDA outlook for 2022, in its 8-K filing, dated Jul 01, 2022. During the last-reported first quarter earnings results, the company provided adjusted EBITDA guidance in the range of $52-$56 million in 2022, suggesting growth of 25.6%-35.3%.
This physician practice management company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -122.2%. Revenues are expected to be $312.04 million, up 38.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Privia Health, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PRVA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Privia Health is a member of the Zacks Medical Info Systems industry. One other stock in the same industry, Pulmonx Corporation (LUNG - Free Report) , finished the last trading session 10.9% higher at $17.02. LUNG has returned -18% over the past month.
Pulmonx Corporation's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.41. Compared to the company's year-ago EPS, this represents a change of -20.6%. Pulmonx Corporation currently boasts a Zacks Rank of #3 (Hold).