Does Wall Street Rate MultiPlan Corporation (MPLN) Shares A Buy?

As of Thursday close, MultiPlan Corporation’s (NYSE:MPLN) stock was down -$0.54, moving down -10.78 percent to $4.47. The average number of shares traded per day over the past five days has been 1,603,360 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.76 fall in that time frame. In the last twenty days, the average volume was 1,426,130, while in the previous 50 days, it was 2,135,728.

Since last month, MPLN stock retreated -22.13%. Shares of the company fell to $4.46 on 08/04/22, the lowest level in the past month. A 52-week high of $7.93 was reached on 06/27/22 after having rallying from a 52-week low of $3.25. Since the beginning of this year, MPLN’s stock price has risen by 0.90% or $0.04, and marked a new high 17 times. However, the stock has declined by -43.63% since its 52-week high.

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MultiPlan Corporation (MPLN) last reported insider trading activity 249 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 28.65. Besides these, the trailing price-to-sales (P/S) ratio of 2.56, the price-to-book (PB) ratio of 1.19, and the price-to-cash flow ratio of 8.79 may also be considered.

Financial Health

In the three months ended March 30, MultiPlan Corporation’s quick ratio stood at 2.30, while its current ratio was 2.30, 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 March 30 was 2.04, and the total debt-to-equity ratio was 2.05. On the profitability front, the trailing twelve-month gross margin is 84.30% percent. In the year ended March 30, operating margins totaled 34.90%. 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 March 30, 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 $0.07 per share, beating the consensus estimate by 75.00%. 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 March 30, 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 65.41%, the RSI 9-day stood at 26.38% on 04 August.

With respect to its five-day moving average, the current MultiPlan Corporation price is down by -14.53% percent or -$0.76. At present, MPLN shares trade -22.40% below its 20-day simple moving average and -8.78% percent below its 100-day simple moving average. However, the stock is currently trading approximately -10.42% below its SMA50 and -6.88% below its SMA200.

Stochastic coefficient K was 32.01% and Stochastic coefficient D was 43.14%, while ATR was 0.27. Given the Stochastic reading of 1.02% for the 14-day period, the RSI (14) reading has been calculated as 32.99%. As of today, the MACD Oscillator reading stands at -0.16, while the 14-day reading stands at -0.20.

Analyst Ratings

Goldman launched its rating on MultiPlan Corporation (NYSE: MPLN) to a Neutral in a note to investors on July 12, 2022. MultiPlan Corporation (MPLN) has been rated Overweight by analysts. According to 0 brokerage firms, MPLN is a sell, and 2 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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