Shares of Performant Financial Corporation (NASDAQ:PFMT) traded today at $5.13, eclipsing its 52-week high. This new high was reached on below average trading volume as 231,000 shares traded hands, while the average 30-day volume is approximately 514,000 shares.
Performant Financial Corporation share prices have moved between a 52-week high of $5.13 and a 52-week low of $0.55 and are now trading 805% above that low price at $4.93 per share.
There is potential upside of 102.3% for shares of Performant Financial Corporation based on a current price of $4.93 and an average consensus analyst price target of $9.97.
Performant Financial Corp provides technology-enabled recovery and related analytics services in the United States. The company provides its services on an outsourced basis where it handles many or all aspects of its clients’ recovery processes. It uses 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. The services are primarily offered across a broad range of government and private clients in several markets. The revenue generated here is generally on success-based as it earns fees based on a percentage of the aggregate amount of funds that it enables the clients to recover.
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