It's hard to spot potential stock market winners as the bear claws its way back onto the market. One company that stands out though is medical software provider Privia Health. On Monday, the Relative Strength Rating for Privia Health stock rose into an elite group of top-rated stocks, rising to an 81 rating, up from 73 the prior trading session.
The new 81 RS Rating shows that Privia stock has outperformed 81% of all stocks on price performance over the past year. It's notable because market research shows that the market's biggest winners tend to have an 80 or better RS Rating as they launch their biggest climbs.
Privia Health's Other Ratings Shine
Among its other key ratings, Privia boasts a powerful 96 EPS Rating, of a best-possible 99. This reflects strong profit growth in recent quarters and years. Its Composite Rating is 85 and it has a B- Accumulation/Distribution Rating, on an A+ to E scale. This shows moderately strong accumulation of its shares by institutional investors. That's rare, given how many investors are dumping other stocks.
Privia Health went public at the end of April 2021. It was trading at 34.74 shortly after its IPO. It's below that currently and has been going mostly sideways since November. However it's formed a cup base and is rising as it works on the right side of the cup. It closed at 25.29 Monday in sync with the market plunge, down over 4% for the day but still up more than 40% from a May 12 intraday low 17.99.
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Privia Health is trying to complete a cup without handle with a 29.07 entry. See if the stock can clear the breakout price in volume at least 40% above average.
Earnings grew 33% last quarter to 12 cents per share. The prior three quarters its EPS grew 67%, 62% and then 20%. Revenue for the small cap jumped 47% last quarter to $313.8 million.
Privia Health earns the No. 3 rank among its peers in the Computer Software-Medical industry group. Simulations Plus and Evolent Health are also among the group's highest-rated stocks.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
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