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Privia Health Group
(NASDAQ:PRVA)
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Rating:56Neutral
Price Target:
$24.50
▼(-3.92% Downside)
Action:Reiterated
Date:08/06/26
PRVA scores as mid-range: the strongest support comes from a positive earnings update with solid operational growth and improving adjusted EBITDA/margins. Offsetting that, the financial statements flag major recent-period cash flow risk (TTM cash flow reported as sharply negative) and thin profitability, while technical signals remain bearish and valuation is stretched due to a very high P/E with no dividend support.
Positive Factors
Network scale & provider growth
A growing provider base and high retention establish durable scale advantages: larger patient panels and sticky partnerships boost recurring practice‑management fees, strengthen payer negotiation leverage, and create network effects that support cross‑selling technology and value‑based contracts over multiple quarters.
Negative Factors
TTM negative operating & free cash flow
The reported TTM cash‑flow reversal is a material structural concern: a large negative operating and free cash flow figure either reflects a severe cash drain or a reporting anomaly. Either way it elevates funding and execution risk and may force capital conservation or external financing until clarified.
Read all positive and negative factors
Positive Factors
Negative Factors
Network scale & provider growth
A growing provider base and high retention establish durable scale advantages: larger patient panels and sticky partnerships boost recurring practice‑management fees, strengthen payer negotiation leverage, and create network effects that support cross‑selling technology and value‑based contracts over multiple quarters.
Read all positive factors
Privia Health Group (PRVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.98B
Dividend YieldN/A
Average Volume (3M)1.22M
Price to Earnings (P/E)133.8
Beta (1Y)0.81
Revenue Growth24.72%
EPS Growth35.79%
CountryUS
Employees1,226
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.22
Shares Outstanding126,012,375
10 Day Avg. Volume1,248,843
30 Day Avg. Volume1,218,545
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$31.25Price Target Upside22.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
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 Health primarily makes money by providing management services, technology, and value-based care enablement to physician practices and health systems through long-term partnerships.
Key revenue streams typically include:
- Practice manageme...
Privia Health Group Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presented a strong set of operational and financial results — double-digit growth in implemented providers, attributed lives and practice collections, substantial adjusted EBITDA growth and notable margin expansion — supported by a cash-rich, no-debt balance sheet and continued M&A and market expansion. The primary risks discussed were timing-related (possible CMS shared-savings settlement delay and cash-tax timing), a Q2 observation that provider payments grew faster than revenue, and near-term market/payer variability. Management maintained conservative guidance posture for the back half of the year despite raising full-year outlook ranges for several metrics and emphasized AI and scale levers to continue margin improvement.Positive Updates
Implemented Providers and Network Scale
Implemented providers grew 10.1% year-over-year to 5,644 (up 109 sequentially), serving over 6.1 million patients across more than 1,300 care center locations in 25 states and DC; gross provider retention averaged ~98% over the past 3 years.
Negative Updates
Potential Delay of CMS 2025 Shared Savings Cash Settlement
CMS proposed changes could delay final MSSP reconciliation for performance year 2025, potentially pushing cash settlement into November or December and creating an atypical year-end cash flow dynamic (timing risk for provider payouts and cash conversion).
Read all updates
Q2-2026 Updates
Positive
Negative
Implemented Providers and Network Scale
Implemented providers grew 10.1% year-over-year to 5,644 (up 109 sequentially), serving over 6.1 million patients across more than 1,300 care center locations in 25 states and DC; gross provider retention averaged ~98% over the past 3 years.
Read all positive updates
Company Guidance
Privia raised its 2026 outlook — moving attributed lives to the high end of prior guidance and lifting practice collections and GAAP revenue to the high end of their prior ranges, while care‑margin platform contribution and adjusted EBITDA are now guided to the mid‑ to high‑end of prior ranges; implemented provider guidance is unchanged (midpoint implies adding ~570 providers, ~10.6% growth vs. 2025). Key Q2/H1 metrics underlying the update: implemented providers 5,644 (+109 sequential, +10.1% YoY), practice collections Q2 $970M (+12.4% YoY) and H1 $1.88B (+13.4% YoY), adjusted EBITDA Q2 $37.4M (+29%, 28.3% of care margin, +310 bps YoY) and H1 $74.1M (+32.5%), value‑based attributed lives +19.2% YoY (1.64M+ total attributed lives; 942k commercial), cash >$412M with no debt, and an expectation that 70%–80% of full‑year adjusted EBITDA will convert to free cash flow; management noted a potential CMS MSSP reconciliation timing delay into November that could create atypical year‑end cash‑flow timing.Privia Health Group Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
70
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.36B | 2.12B | 1.74B | 1.66B | 1.36B | 966.22M |
| Gross Profit | 179.46M | 209.43M | 176.85M | 161.50M | 134.78M | 63.66M |
| EBITDA | 68.17M | 53.84M | 35.14M | 35.55M | -14.01M | -214.97M |
| Net Income | 28.12M | 22.92M | 14.38M | 23.08M | -8.59M | -188.23M |
Balance Sheet | ||||||
| Total Assets | 1.49T | 1.37B | 1.14B | 999.90M | 792.81M | 686.37M |
| Cash, Cash Equivalents and Short-Term Investments | 412.20B | 479.69M | 491.15M | 389.51M | 347.99M | 320.58M |
| Total Debt | 8.73B | 9.53M | 5.59M | 8.29M | 11.50M | 46.50M |
| Total Liabilities | 650.51B | 578.43M | 452.34M | 392.51M | 273.76M | 236.19M |
| Stockholders Equity | 782.33B | 737.22M | 635.18M | 561.44M | 499.09M | 426.87M |
Cash Flow | ||||||
| Free Cash Flow | -48.24M | 162.20M | 104.26M | 80.67M | 47.09M | 54.51M |
| Operating Cash Flow | -47.04M | 163.40M | 109.28M | 80.78M | 47.20M | 55.06M |
| Investing Cash Flow | -104.00M | -181.57M | -10.32M | -48.01M | -104.00K | -32.77M |
| Financing Cash Flow | -5.83M | 6.70M | 2.68M | 8.74M | -19.68M | 213.66M |
Privia Health Group Technical Analysis
Negative
25.50
Price Trends
24.46
Negative
23.61
Negative
23.61
Negative
Market Momentum
-0.61
Positive
26.78
Positive
26.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRVA, the sentiment is Negative. The current price of 25.5 is above the 20-day moving average (MA) of 25.44, above the 50-day MA of 24.46, and above the 200-day MA of 23.61, indicating a bearish trend. The MACD of -0.61 indicates Positive momentum. The RSI at 26.78 is Positive, neither overbought nor oversold. The STOCH value of 26.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $819.19M | 42.13 | 6.01% | 0.47% | 6.64% | 6.54% | |
56 Neutral | $2.98B | 133.80 | 3.02% | ― | 24.72% | 35.79% | |
52 Neutral | $347.57M | -0.66 | -77.89% | ― | -21.26% | -290.08% | |
52 Neutral | $98.08M | -0.42 | -67.07% | ― | -3.89% | 63.03% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
| ― | ― | ― | ― | ― | ― | ― | |
52 Neutral | $1.22B | -6.78 | -13.08% | ― | -2.08% | 16.88% |
* Healthcare Sector Average
PRVA
Privia Health Group
22.00
2.49
12.76%
HSTM
HealthStream
28.12
2.32
9.01%
PINC
―
―
―
―
EVH
Evolent Health
3.59
-6.10
-62.95%
TDOC
Teladoc
6.68
-0.27
-3.88%
DH
Definitive Healthcare Corp
0.69
-3.29
-82.75%
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.