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Investing.com - Canaccord Genuity has raised its price target on Privia Health Group Inc (NASDAQ:PRVA) to $34.00 from $32.00 while maintaining a Buy rating on the stock. This new target represents potential upside from the current price of $24.32, with analyst targets ranging from $23 to $37 according to InvestingPro data.
The firm cited Privia’s strong third-quarter performance, noting the company posted another earnings beat, continuing what it described as "a long track record of delivering upside." Following the quarterly results, Privia raised its guidance as Canaccord had anticipated after the second-quarter report. InvestingPro data shows Privia achieved 19.01% revenue growth in the last twelve months, with a market capitalization of approximately $3 billion.
Canaccord had previously selected Privia as one of its healthcare sector "Focus Stocks" for 2025, highlighting the company’s positioning to benefit from the current heightened utilization environment in healthcare. This aligns with InvestingPro data showing Privia has delivered a strong 24.4% year-to-date price return, though investors should note the stock trades at a high P/E ratio of 174.16.
The research firm specifically pointed to Privia’s diversified business model with respect to payer reimbursement, featuring both fee-for-service and balanced value-based care revenue streams as key strengths.
Canaccord expressed optimism that Privia’s strong performance can continue through the fourth quarter of 2025 and into 2026, noting that its investment thesis for the company is "playing out much as we had anticipated."
In other recent news, Privia Health Group Inc reported its third-quarter 2025 earnings, revealing revenue of $580.42 million, which surpassed expectations by 17.92%. Despite this revenue beat, the company’s earnings per share (EPS) of $0.05 fell slightly short of the anticipated $0.0545, marking an 8.26% negative surprise. Following these results, Truist Securities raised its price target for Privia Health to $31, maintaining a Buy rating, citing a positive outlook after discussions with the company’s management. Meanwhile, Evercore ISI also increased its price target to $30, up from $28, and kept an Outperform rating. Evercore ISI highlighted Privia Health’s strong third-quarter performance, noting a 27% year-over-year increase in Practice Collections to $940 million and a 62% rise in adjusted EBITDA to $38.2 million. These developments reflect a positive sentiment among analysts regarding Privia Health’s financial health and future prospects.
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