On June 10, Oscar Health rose 5.25% in pre-market trading, trading at $28.60/share, with trading volume of approximately $3.99 million.
On the news front, Barclays upgraded Oscar Health from Equal Weight to Overweight, raising its target price from $30 to $35. According to FactSet data, the stock currently carries an average analyst rating of Hold with a mean target price of $22.64. This marks the second consecutive investment bank upgrade in recent weeks, following Wells Fargo's earlier upgrade from Underweight to Equal Weight with a target price increase from $11 to $20 at the beginning of June.
The successive upgrades come alongside strong fundamental momentum. Oscar Health reported Q1 total revenue of $4.65 billion, up 53% year-over-year, with net income of $679 million and EPS of $2.07, significantly exceeding the consensus estimate of $1.10. Membership reached 3.2 million, up 56% year-over-year. The combination of consecutive analyst upgrades and robust earnings performance continues to drive the stock higher from its earlier lows.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments