What's Going On With Clover Health Stock Tuesday?
Portfolio Pulse from Adam Eckert
Clover Health Investments Corp (NASDAQ:CLOV) reported Q3 revenue of $482.07 million, missing the consensus estimate of $494.6 million. Insurance revenues were up 12% YoY to $301.2 million. The company reported an adjusted EBITDA loss of $5.1 million, improved from a loss of $55.5 million YoY. Clover Health revised its 2023 adjusted EBITDA outlook from a loss of $70 million to $120 million to a loss of $55 million to $80 million. The company updated its full-year 2023 insurance revenue outlook from a range of $1.2 to $1.23 billion to a new range of $1.21 to $1.23 billion.

November 07, 2023 | 2:28 pm
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NEGATIVE IMPACT
Clover Health's Q3 revenue missed estimates and the company revised its 2023 EBITDA outlook. The stock is trading lower.
Clover Health's stock is trading lower due to the company's Q3 revenue missing estimates and the revision of its 2023 EBITDA outlook. This indicates a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100