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Privia Health Group
(NASDAQ:PRVA)
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Rating:59Neutral
Price Target:
$29.00
▲(20.73% Upside)
Action:Downgraded
Date:05/23/26
The score is primarily supported by improving fundamentals (turnaround to profitability, low leverage, and generally positive free cash flow) and a constructive earnings-call outlook with strong growth/EBITDA momentum. These positives are held back by weak technical trend signals and a very high P/E with no dividend yield, which increases downside risk if growth or margins disappoint.
Positive Factors
Provider scale & attributed lives
Rapid, broad growth in provider count and attributed lives is a durable structural advantage: it increases recurring fee pools, expands negotiating leverage with payers, improves population health data depth, and makes value-based contracting and cross-sell more sustainable over multiple quarters.
Negative Factors
Thin and pressured margins
Modest gross and operating margins reduce the company's buffer against cost inflation or reimbursement shifts. Persistently thin margins limit reinvestment capacity and increase sensitivity to utilization, payer mix, or adverse contract terms over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Provider scale & attributed lives
Rapid, broad growth in provider count and attributed lives is a durable structural advantage: it increases recurring fee pools, expands negotiating leverage with payers, improves population health data depth, and makes value-based contracting and cross-sell more sustainable over multiple quarters.
Read all positive factors
Privia Health Group (PRVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.45B
Dividend YieldN/A
Average Volume (3M)1.04M
Price to Earnings (P/E)154.7
Beta (1Y)0.75
Revenue Growth24.72%
EPS Growth35.79%
CountryUS
Employees1,140
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.17
Shares Outstanding126,012,375
10 Day Avg. Volume1,150,981
30 Day Avg. Volume1,042,996
Financial Highlights & Ratios
PEG Ratio2.14
Price to Book (P/B)3.93
Price to Sales (P/S)1.36
P/FCF Ratio17.86
Enterprise Value/Market Cap0.74
Enterprise Value/Revenue1.13
Enterprise Value/Gross Profit11.79
Enterprise Value/Ebitda45.04
Forecast
1Y Price Target
$30.60Price Target Upside27.39% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)0.24
Revenue Forecast (FY)$2.42B
Privia Health Group Business Overview & Revenue Model
Company Description
Privia Health Group, Inc. functions as a national entity focused on empowering physicians throughout the United States. It partners with medical groups, health plans, and health systems, with the primary objective of optimizing physician practices...
How the Company Makes Money
Privia primarily makes money by providing management services and technology-enabled support to affiliated physician practices and medical groups, earning fees tied to the scope of services delivered and the performance of those groups in value-ba...
Privia Health Group Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum — double‑digit provider and attributed‑lives growth, healthy practice collections growth, significant adjusted EBITDA expansion, margin improvement, and successful early integration of Evolent — supported by a large M&A pipeline and clear technology/AI initiatives to drive future efficiency. Offsetting factors included management’s conservative approach to full‑year guidance (except attributed lives), quarter‑to‑quarter volatility from prior‑year adjustments and shared‑savings timing, Q1 seasonality of cash flows, and payer/policy uncertainties (e.g., MA/V28 dynamics and variability in capitated vs. shared‑risk economics). Overall, the positives on growth, profitability, balance sheet flexibility, and execution materially outweighed the cited risks and uncertainties.Positive Updates
Provider and Attribution Growth
Implemented providers reached 5,535, a 13.6% increase year-over-year, with sequential growth of +155 from year-end 2025. Total value‑based attributed lives rose to ~1.6 million, up 26.5% year‑over‑year, driven by new provider signings and the addition of the Evolent ACO business.
Negative Updates
Conservative Full‑Year Guidance Despite Strong Q1
Management maintained full‑year 2026 guidance across most metrics (only increasing the attributed lives range) despite strong Q1 results, signaling a cautious posture and potential uncertainty on sustainability of near‑term upside.
Read all updates
Q1-2026 Updates
Positive
Negative
Provider and Attribution Growth
Implemented providers reached 5,535, a 13.6% increase year-over-year, with sequential growth of +155 from year-end 2025. Total value‑based attributed lives rose to ~1.6 million, up 26.5% year‑over‑year, driven by new provider signings and the addition of the Evolent ACO business.
Read all positive updates
Company Guidance
Privia reiterated its full‑year 2026 guidance (raising only the year‑end attributed‑lives range) after a strong Q1: implemented providers 5,535 (+13.6% YoY, +155 sequential); 1.6M attributed lives (+26.5% YoY) — commercial ~913k, MA ~550k, Medicare programs +62%, Medicaid +36%; Q1 practice collections $914.8M (+14.6% YoY); Q1 adjusted EBITDA $36.7M (+36.3% YoY), representing 28.5% of care margin (up 290 bps); full‑year adjusted EBITDA midpoint $150M (implying ~20% EBITDA growth) with ~80% of EBITDA expected to convert to free cash flow as a full cash taxpayer; quarter‑end cash $219.5M and no debt; national footprint in 24 states + DC, 5,535 providers caring for >5.9M patients; management reiterated a long‑term EBITDA‑to‑care‑margin target of 30–35% (2026 guidance approaches ~29%) and noted pro forma year‑end cash could be roughly $600M excluding business‑development spend.Privia Health Group Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
72
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.25B | 2.12B | 1.74B | 1.66B | 1.36B | 966.22M |
| Gross Profit | 215.35M | 209.43M | 176.85M | 161.50M | 134.78M | 63.66M |
| EBITDA | 56.39M | 53.84M | 35.14M | 35.55M | -14.01M | -214.97M |
| Net Income | 21.76M | 22.92M | 14.38M | 23.08M | -8.59M | -188.23M |
Balance Sheet | ||||||
| Total Assets | 1.42B | 1.37B | 1.14B | 999.90M | 792.81M | 686.37M |
| Cash, Cash Equivalents and Short-Term Investments | 419.52M | 479.69M | 491.15M | 389.51M | 347.99M | 320.58M |
| Total Debt | 9.02M | 9.53M | 5.59M | 8.29M | 11.50M | 46.50M |
| Total Liabilities | 611.99M | 578.43M | 452.34M | 392.51M | 273.76M | 236.19M |
| Stockholders Equity | 753.06M | 737.22M | 635.18M | 561.44M | 499.09M | 426.87M |
Cash Flow | ||||||
| Free Cash Flow | 136.77M | 162.20M | 104.26M | 80.67M | 47.09M | 54.51M |
| Operating Cash Flow | 138.00M | 163.40M | 109.28M | 80.78M | 47.20M | 55.06M |
| Investing Cash Flow | -193.04M | -181.57M | -10.32M | -48.01M | -104.00K | -32.77M |
| Financing Cash Flow | 5.23M | 6.70M | 2.68M | 8.74M | -19.68M | 213.66M |
Privia Health Group Technical Analysis
Positive
24.02
Price Trends
23.43
Positive
22.85
Positive
23.40
Positive
Market Momentum
1.03
Negative
80.33
Negative
93.25
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRVA, the sentiment is Positive. The current price of 24.02 is above the 20-day moving average (MA) of 23.86, above the 50-day MA of 23.43, and above the 200-day MA of 23.40, indicating a bullish trend. The MACD of 1.03 indicates Negative momentum. The RSI at 80.33 is Negative, neither overbought nor oversold. The STOCH value of 93.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PRVA.
Privia Health Group Risk Analysis
Privia Health Group disclosed 51 risk factors in its most recent earnings report. Privia Health Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Privia Health Group Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $830.00M | 42.68 | 5.67% | 0.52% | 6.64% | 6.54% | |
61 Neutral | $1.66B | -9.48 | -12.37% | ― | -1.50% | 83.75% | |
59 Neutral | $3.45B | 154.66 | 3.02% | ― | 24.72% | 35.79% | |
53 Neutral | $642.27M | -1.22 | -77.89% | ― | -21.26% | -290.08% | |
52 Neutral | $112.08M | -0.48 | -67.07% | ― | -3.89% | 63.03% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
PRVA
Privia Health Group
27.36
6.01
28.15%
HSTM
HealthStream
28.41
0.97
3.55%
EVH
Evolent Health
5.71
-5.93
-50.95%
TDOC
Teladoc
9.20
1.13
14.00%
DH
Definitive Healthcare Corp
0.78
-3.25
-80.67%
Privia Health Group Corporate Events
Executive/Board ChangesShareholder Meetings
Privia Health Stockholders Back Board, Pay, and Auditor
Positive
May 22, 2026
On May 20, 2026, Privia Health Group, Inc. held its 2026 Annual Meeting of Stockholders via live webcast, where shareholders elected three nominees as Class I directors to serve terms expiring at the 2029 Annual Meeting. The re-election of board m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.