Privia Health Group (NASDAQ:PRVA) Earns Buy Rating from Analysts at Needham & Company LLC

Equities researchers at Needham & Company LLC initiated coverage on shares of Privia Health Group (NASDAQ:PRVA) in a research note issued on Friday, MarketBeat reports. The firm set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 21.89% from the company’s previous close.

Other analysts have also issued research reports about the stock. KeyCorp started coverage on shares of Privia Health Group in a research report on Friday, October 11th. They set an “overweight” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Privia Health Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Barclays increased their price target on shares of Privia Health Group from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Truist Financial increased their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Macquarie started coverage on shares of Privia Health Group in a research note on Monday, December 16th. They set an “outperform” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $24.88.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA opened at $20.51 on Friday. Privia Health Group has a 1 year low of $15.92 and a 1 year high of $23.24. The firm’s 50 day moving average price is $20.93 and its 200 day moving average price is $19.45. The firm has a market cap of $2.46 billion, a P/E ratio of 205.12, a price-to-earnings-growth ratio of 5.45 and a beta of 0.85.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Privia Health Group by 1.5% during the 3rd quarter. FMR LLC now owns 18,169,043 shares of the company’s stock worth $330,858,000 after buying an additional 271,645 shares during the period. Geode Capital Management LLC grew its holdings in Privia Health Group by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,415,022 shares of the company’s stock worth $43,986,000 after acquiring an additional 23,178 shares in the last quarter. Franklin Resources Inc. grew its holdings in Privia Health Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company’s stock worth $23,092,000 after acquiring an additional 28,480 shares in the last quarter. Millennium Management LLC grew its holdings in Privia Health Group by 2,994.2% during the 2nd quarter. Millennium Management LLC now owns 1,138,526 shares of the company’s stock worth $19,788,000 after acquiring an additional 1,101,730 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Privia Health Group by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,118,619 shares of the company’s stock worth $19,441,000 after acquiring an additional 173,934 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.