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PHLT 
Performant Healthcare, Inc (PHLT)
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Upturn Advisory Summary
10/21/2025: PHLT (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
3 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $7.75
1 Year Target Price $7.75
| 3 | Strong Buy |
| 0 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -25.87% | Avg. Invested days 36 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/21/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 623.41M USD | Price to earnings Ratio - | 1Y Target Price 7.75 |
Price to earnings Ratio - | 1Y Target Price 7.75 | ||
Volume (30-day avg) 3 | Beta 0.69 | 52 Weeks Range 2.17 - 7.76 | Updated Date 11/2/2025 |
52 Weeks Range 2.17 - 7.76 | Updated Date 11/2/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.01 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -0.64% | Operating Margin (TTM) 6.98% |
Management Effectiveness
Return on Assets (TTM) -0.03% | Return on Equity (TTM) -1.12% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 614635514 | Price to Sales(TTM) 4.54 |
Enterprise Value 614635514 | Price to Sales(TTM) 4.54 | ||
Enterprise Value to Revenue 4.47 | Enterprise Value to EBITDA 88.81 | Shares Outstanding 80440418 | Shares Floating 54436849 |
Shares Outstanding 80440418 | Shares Floating 54436849 | ||
Percent Insiders 2.52 | Percent Institutions 87.72 |
Upturn AI SWOT
Performant Healthcare, Inc
Company Overview
History and Background
Performant Healthcare, Inc. was founded in 2011. It has focused on providing technology-enabled recovery and revenue integrity services, primarily in the healthcare sector, helping clients identify and recover improper payments. The company evolved through several acquisitions and organic growth initiatives.
Core Business Areas
- Recovery Audit: Identifies and recovers improper payments made by government and commercial healthcare payers to healthcare providers. Their expertise lies in audit services.
- Revenue Integrity: Offers solutions to ensure the accuracy and integrity of healthcare revenue cycle processes.
Leadership and Structure
The leadership team includes Simeon Schwartz, M.D. (Chief Executive Officer). The organizational structure is typical of a publicly traded company, with a board of directors overseeing the management team.
Top Products and Market Share
Key Offerings
- Recovery Audit Services: Core service focused on identifying and recovering improper healthcare payments. Market share data is not readily available. Competitors include Cotiviti Holdings (now part of Verscend Technologies), Conduent, and HMS Holdings.
- Revenue Integrity Solutions: Ensures the accuracy and compliance of healthcare revenue cycle processes. Market share data is not readily available. Competitors include Change Healthcare, OptumInsight, and R1 RCM.
Market Dynamics
Industry Overview
The healthcare payment integrity market is driven by increasing healthcare costs and regulatory pressures to reduce fraud, waste, and abuse. The industry is competitive and requires expertise in healthcare regulations, data analytics, and technology.
Positioning
Performant Healthcare, Inc. positions itself as a leading provider of technology-enabled recovery and revenue integrity services within the healthcare sector. Its competitive advantages lie in its specialized expertise and proprietary technology.
Total Addressable Market (TAM)
The total addressable market for healthcare payment integrity is estimated to be in the billions of dollars. Performant is positioned to capture a portion of this TAM by helping healthcare organizations optimize their processes and recover improper payments.
Upturn SWOT Analysis
Strengths
- Specialized expertise in healthcare payment integrity
- Proprietary technology platform
- Established relationships with government and commercial healthcare payers
- Strong track record of recovering improper payments
Weaknesses
- Reliance on government contracts
- Relatively small size compared to larger competitors
- Fluctuations in revenue based on contract cycles
- Past financial performance issues
Opportunities
- Expanding into new healthcare markets
- Developing new technology solutions
- Acquiring smaller competitors
- Increasing demand for payment integrity services due to rising healthcare costs
Threats
- Changes in government regulations
- Increased competition from larger companies
- Economic downturns
- Technological advancements that could render existing solutions obsolete
Competitors and Market Share
Key Competitors
- COTV
- CNC
- DXC
- THC
Competitive Landscape
Compared to competitors, Performant possesses specialized expertise but is smaller. This limits its competitive reach. Its strengths are offset by its higher dependency on securing and retaining contracts.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been uneven, influenced by contract wins, losses, and market fluctuations.
Future Projections: Future growth is projected to be moderate, dependent on the company's ability to secure new contracts and expand its service offerings. Analyst estimates are highly variable.
Recent Initiatives: Recent initiatives include focusing on technology advancements and expanding service offerings to capture a larger share of the payment integrity market.
Summary
Performant Healthcare, Inc. is a specialized player in the healthcare payment integrity market, relying significantly on government contracts. Its revenue streams can be inconsistent due to contract cycles. Leveraging technology and securing new market niches could strengthen its long-term position. The company should focus on diversifying its customer base to mitigate contract-related revenue fluctuations and enhance financial stability and growth.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company filings
- Market reports
- Analyst estimates
Disclaimers:
This analysis is based on available information and estimates. Market conditions and company performance may change. This is not financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Performant Healthcare, Inc
Exchange NASDAQ | Headquaters Plantation, FL, United States | ||
IPO Launch date 2012-08-10 | CEO & Director Mr. Simeon M. Kohl | ||
Sector Healthcare | Industry Health Information Services | Full time employees 964 | Website https://performantcorp.com |
Full time employees 964 | Website https://performantcorp.com | ||
Performant Healthcare, Inc. provides audit, recovery, and analytics services in the United States. It supports healthcare payers in identifying, preventing, and recovering waste and improper payments through advanced technology, analytics, and proprietary data assets. The company also offers coordination-of-benefits services, as well as claims-based services, which includes the audit and identification of improperly paid claims. Further, it provides advanced reporting capabilities, support services, customer care, and stakeholder training programs to mitigate future instances of improper payments. The company was formerly known as Performant Financial Corporation and changed its name to Performant Healthcare, Inc. in December 2024. Performant Healthcare, Inc. was founded in 1976 and is headquartered in Plantation, Florida. As of October 21, 2025, Performant Healthcare, Inc. operates as a subsidiary of Machinify, Inc.
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