Oscar Health, Inc. (OSCR) closed the most recent trading day at $18.73, moving -3.1% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.47%. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.94%.
Shares of the company witnessed a gain of 23.59% over the previous month, beating the performance of the Finance sector with its gain of 2.42%, and the S&P 500's gain of 2.32%.
Market participants will be closely following the financial results of Oscar Health, Inc. in its upcoming release. In that report, analysts expect Oscar Health, Inc. to post earnings of -$0.66 per share. This would mark a year-over-year decline of 200%. At the same time, our most recent consensus estimate is projecting a revenue of $3.07 billion, reflecting a 26.66% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.42 per share and revenue of $11.94 billion, indicating changes of -1520% and +30.14%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Oscar Health, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Oscar Health, Inc. holds a Zacks Rank of #5 (Strong Sell).
The Insurance - Multi line industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 69, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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