Movement Alert|Oscar Health, Inc. Rises 5.09% in Regular Trading, Strong Q2 Earnings and Analyst Upgrades Continue to Drive Momentum

Market Focus08-13 03:11

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.

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