JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Privia Health Group (NASDAQ:PRVA) Stock

Privia Health Group (NASDAQ:PRVA) had its target price increased by analysts at JPMorgan Chase & Co. from $32.00 to $33.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 38.73% from the stock’s current price.

A number of other research analysts have also recently weighed in on PRVA. Barclays boosted their price objective on shares of Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday. Evercore ISI increased their price objective on shares of Privia Health Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Piper Sandler decreased their price objective on shares of Privia Health Group from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, August 11th. Weiss Ratings upgraded Privia Health Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, November 7th. Finally, Citigroup reissued an “outperform” rating on shares of Privia Health Group in a research note on Friday, August 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Privia Health Group Stock Down 1.8%

PRVA traded down $0.43 on Thursday, hitting $23.79. The company had a trading volume of 272,642 shares, compared to its average volume of 847,420. The business’s fifty day simple moving average is $24.20 and its 200 day simple moving average is $22.78. Privia Health Group has a 12-month low of $18.77 and a 12-month high of $26.51. The company has a market cap of $2.93 billion, a PE ratio of 182.88, a PEG ratio of 3.45 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Tuesday, June 7th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $213.61 million during the quarter. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%. On average, analysts anticipate that Privia Health Group will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Privia Health Group

A number of hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in Privia Health Group by 19.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,596,634 shares of the company’s stock valued at $39,756,000 after purchasing an additional 256,236 shares during the period. Legal & General Group Plc boosted its stake in shares of Privia Health Group by 3.4% during the third quarter. Legal & General Group Plc now owns 292,901 shares of the company’s stock valued at $7,293,000 after purchasing an additional 9,693 shares in the last quarter. Vestcor Inc increased its holdings in Privia Health Group by 109.5% during the third quarter. Vestcor Inc now owns 19,638 shares of the company’s stock valued at $489,000 after buying an additional 10,265 shares during the period. Swiss National Bank raised its stake in Privia Health Group by 1.7% in the third quarter. Swiss National Bank now owns 189,100 shares of the company’s stock worth $4,709,000 after buying an additional 3,200 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Privia Health Group by 33,783.6% during the third quarter. Russell Investments Group Ltd. now owns 20,669 shares of the company’s stock worth $515,000 after buying an additional 20,608 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.