On August 13, Oscar Health, Inc. rose 5.09% in regular trading, trading at $29.35/share, with turnover of $118 million. The stock continued to rally following strong Q2 results and multiple analyst upgrades.
Oscar Health reported Q2 EPS of $1.10, far exceeding the consensus estimate of $0.49 and swinging from a loss of $0.89 per share a year earlier. Revenue reached $4.88 billion, up from $2.86 billion year-over-year, also beating analyst expectations of $4.75 billion. Total effectuated membership surged 46% year-over-year to 2.963 million. The company reaffirmed full-year revenue guidance of $18.7 billion to $19.0 billion, above FactSet estimates of $18.55 billion.
On the analyst front, UBS raised its price target to $26 from $20 on August 7 while maintaining a Neutral rating. Barclays previously upgraded the stock to Overweight and raised its target to $35. Despite management warning that ACA membership churn may accelerate in the second half, the fundamental outperformance continues to attract capital inflows.
(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.)
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