Oscar Health, Inc. (OSCR) ended the recent trading session at $15.53, demonstrating a -3.42% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.09%.
The company's stock has climbed by 13.64% in the past month, exceeding the Finance sector's gain of 2.79% and the S&P 500's gain of 4.37%.
The investment community will be paying close attention to the earnings performance of Oscar Health, Inc. in its upcoming release. The company is forecasted to report an EPS of $0.34, showcasing a 70% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $2.86 billion, indicating a 28.96% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.61 per share and a revenue of $11.21 billion, representing changes of +510% and +22.12%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Oscar Health, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Oscar Health, Inc. presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oscar Health, Inc. has a Forward P/E ratio of 26.22 right now. Its industry sports an average Forward P/E of 10.14, so one might conclude that Oscar Health, Inc. is trading at a premium comparatively.
The Insurance - Multi line industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 27% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Oscar Health, Inc. (OSCR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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