What's Going On With Clover Health Investments Stock?
Portfolio Pulse from Ryan Gustafson
Clover Health Investments Corp. (NASDAQ:CLOV) shares are trading higher due to a recent analyst price target change and a positive quarterly report. The company reported Q2 sales of $513.63 million, beating the analyst consensus estimate of $490.82 million. Clover also issued full-year 2023 EBITDA guidance with losses between $70 million and $120 million, an improvement from the previous estimate. Citigroup analyst Jason Cassorla maintained a Neutral rating for the company and raised the price target from $1 to $1.5.
August 29, 2023 | 8:17 pm
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Clover Health's stock is trading higher due to positive Q2 results and improved 2023 EBITDA guidance. The company's price target was also raised by Citigroup.
Clover Health's stock is trading higher due to the company beating Q2 sales estimates and improving its 2023 EBITDA guidance. Additionally, Citigroup's raised price target for the company indicates a positive outlook, which can attract more investors and drive the stock price up in the short term.
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