Healthcare tech company Privia Health Group (NASDAQ: PRVA) will be announcing earnings results tomorrow before market open. Here’s what to expect.
Privia Health beat analysts’ revenue expectations last quarter, reporting revenues of $580.4 million, up 32.5% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.
Is Privia Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Privia Health’s revenue to grow 12% year on year, improving from the 4.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Privia Health has a history of exceeding Wall Street’s expectations.
Looking at Privia Health’s peers in the healthcare technology segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Omnicell delivered year-on-year revenue growth of 2.3%, meeting analysts’ expectations, and Evolent Health reported a revenue decline of 27.5%, in line with consensus estimates. Omnicell traded down 20.6% following the results.
Read our full analysis of Omnicell’s results here and Evolent Health’s results here.
Investors in the healthcare technology segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. Privia Health is down 5.4% during the same time and is heading into earnings with an average analyst price target of $31.25 (compared to the current share price of $21.70).
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