Movement Alert|Oscar Health, Inc. Rises 5.07% in Regular Trading, Buoyed by Analyst Price Target Upgrades and Strong Q2 Earnings Momentum

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On September 15, Oscar Health, Inc. rose 5.07% in regular trading, trading at $34.43 per share, with turnover of $108 million.

On the catalyst front, Bank of America recently raised its price target on the stock from $25 to $28, with the average analyst consensus target standing at $31.09. The upward revision follows a blowout Q2 earnings report, in which the company posted EPS of $1.10, more than doubling the consensus estimate of approximately $0.42. Revenue reached $4.88 billion, beating the $4.75 billion estimate and surging over 70% year-over-year. Total effectuated membership climbed 46% year-over-year to approximately 2.96 million. The company reaffirmed full-year revenue guidance of $18.7 billion to $19.0 billion, above consensus. Multiple firms have raised targets in recent months, including Barclays upgrading to Overweight with a $35 target and UBS lifting its target from $20 to $26.

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