Healthcare tech company Privia Health Group (NASDAQ: PRVA) will be reporting results tomorrow before the bell. Here’s what to look for.
Privia Health beat analysts’ revenue expectations by 9.4% last quarter, reporting revenues of $460.9 million, up 4.6% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ sales volume estimates but full-year revenue guidance missing analysts’ expectations.
Is Privia Health a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Privia Health’s revenue to grow 8.5% year on year to $450.7 million, improving from the 7.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.
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 missed Wall Street’s revenue estimates twice over the last two years.
Looking at Privia Health’s peers in the healthcare technology segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Premier’s revenues decreased 8.9% year on year, beating analysts’ expectations by 7.4%, and Omnicell reported revenues up 9.6%, topping estimates by 3.7%.
Read our full analysis of Premier’s results here and Omnicell’s results here.
There has been positive sentiment among investors in the healthcare technology segment, with share prices up 5.9% on average over the last month. Privia Health is up 4.5% during the same time and is heading into earnings with an average analyst price target of $29.30 (compared to the current share price of $22.72).
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