On June 10, Oscar Health rose 6.04% in regular trading, trading at approximately $28.84/share, with trading volume of $36.65 million. The stock surged following a rating upgrade from Barclays, marking the second major investment bank to raise its outlook on the company in recent days.
Barclays upgraded Oscar Health from Equal Weight to Overweight, raising its target price from $30 to $35. This follows Wells Fargo's upgrade in early June from Underweight to Equal Weight, with a target price increase from $11 to $20. According to FactSet, the stock currently carries an average analyst rating of Hold with a mean target price of $22.64.
The consecutive upgrades come on the heels of strong Q1 results, with total revenue reaching $4.65 billion, up 53% year-over-year, and net income of $679 million, significantly exceeding market expectations. Wells Fargo analyst Stephen Baxter cited increased confidence in the ACA market, noting that enrollment figures and medical cost outcomes have outperformed expectations. The upgrades have effectively offset earlier concerns about the departure of CTO and co-founder Mario Schlosser.
(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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