Is MultiPlan Corporation (MPLN) Price Targeted To Increase?

As of Friday close, MultiPlan Corporation’s (NYSE:MPLN) stock was up $0.4, moving up 8.93 percent to $4.88. The average number of shares traded per day over the past five days has been 2,121,340 shares. 4 times new highs have been achieved over the past 5 days, with a $0.43 gain in that time frame. In the last twenty days, the average volume was 1,847,360, while in the previous 50 days, it was 3,393,220.

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Since last month, MPLN stock rose 1.46%. Shares of the company fell to $4.01 on 05/09/22, the lowest level in the past month. A 52-week high of $9.69 was reached on 03/10/22 after having rallying from a 52-week low of $3.25. Since the beginning of this year, MPLN’s stock price has risen by 10.16% or $0.45, and marked a new high 6 times. However, the stock has declined by -49.64% since its 52-week high.

MultiPlan Corporation (MPLN) last reported insider trading activity 166 days ago on Nov 29. Head James M, the EVP & Chief Financial Officer of the company, purchased of 300,000 shares for $4.34 on Nov 29. It resulted in a $1,302,000 investment by the insider. Colaluca Anthony Jr added 25,000 shares at an average price of $3.96 on Nov 05. The insider now owns 44,016 shares following the transaction. On Aug 20, Director Klapstein Julie D bought 12,000 shares at $6.00 apiece. The transaction was valued at $71,957.

Valuation Metrics

Right now, MultiPlan Corporation (MPLN) has a P/E ratio of about 31.08. Besides these, the trailing price-to-sales (P/S) ratio of 2.73, the price-to-book (PB) ratio of 1.33, and the price-to-cash flow ratio of 9.54 may also be considered.

Financial Health

In the three months ended September 29, MultiPlan Corporation’s quick ratio stood at 2.20, while its current ratio was 2.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 2.08, and the total debt-to-equity ratio was 2.09. On the profitability front, the trailing twelve-month gross margin is 84.30% percent. In the year ended September 29, operating margins totaled 33.10%. Based on annual data, MPLN earned $942.31 million in gross profit and brought in $1.12 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 4.70%. Return on equity (ROE) for the past 12 months was 4.30%.

In MultiPlan Corporation’s quarter-end financial report for September 29, it reported total debt of $4.88 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MPLN’s revenue rose 100.0% to $553.12 million during the quarter, while net income inched up to $298.05 million. While analysts expected MultiPlan Corporation to report $0.04 quarterly earnings, the actual figure was $0.12 per share. During the quarter, the company generated $220.07 million in EBITDA. The liabilities of MultiPlan Corporation were 5.88 billion at the end of its most recent quarter ended September 29, and its total debt was $4.92 billion. The value of shareholders’ equity is $639.01 million.

Technical Picture

This quick technical analysis looks at MultiPlan Corporation’s (MPLN) price momentum. With a historical volatility rate of 111.99%, the RSI 9-day stood at 59.88% on 13 May.

With respect to its five-day moving average, the current MultiPlan Corporation price is up by +9.66% percent or $0.43. At present, MPLN shares trade +2.31% above its 20-day simple moving average and +15.64% percent above its 100-day simple moving average. However, the stock is currently trading approximately +28.76% above its SMA50 and -39.60% below its SMA200.

Stochastic coefficient K was 55.72% and Stochastic coefficient D was 48.64%, while ATR was 0.38. Given the Stochastic reading of 92.59% for the 14-day period, the RSI (14) reading has been calculated as 57.16%. As of today, the MACD Oscillator reading stands at 0.05, while the 14-day reading stands at 0.05.

Analyst Ratings

MultiPlan Corporation (MPLN) has been rated Overweight by analysts. According to 0 brokerage firms , MPLN is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate MultiPlan Corporation stock as buy, with 2 recommending it as overweight.

With a median target price of $6.50, the current consensus forecast for the stock is $6.00 – $7.00. Based on these forecasts, analysts predict MultiPlan Corporation (MPLN) will achieve an average price target of $6.50.


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