Oscar Health Inc Stock Forecast 2023: Oscar Health Inc Is Weak With -44.93% Downside

In the last trading session, 2.6 million Oscar Health Inc (NYSE:OSCR) shares changed hands as the company’s beta touched 1.47. With the company’s per share price at $8.28 changed hands at $0.67 or 8.80% during last session, the market valuation stood at $1.87B. OSCR’s last price was a discount, traded about -19.44% off its 52-week high of $9.89. The share price had its 52-week low at $2.05, which suggests the last value was 75.24% up since then. When we look at Oscar Health Inc’s average trading volume, we note the 10-day average is 2.82 million shares, with the 3-month average coming to 1.62 million.

Analysts gave the Oscar Health Inc (OSCR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended OSCR as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Oscar Health Inc’s EPS for the current quarter is expected to be -$0.71.

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Oscar Health Inc (NYSE:OSCR) trade information

Instantly OSCR was in green as seen at the end of in last trading. With action 21.76%, the performance over the past five days has been green. The jump to weekly highs of 8.38 on Monday, 11/20/23 added 8.80% to the stock’s daily price. The company’s shares are showing year-to-date upside of 236.59%, with the 5-day performance at 21.76% in the green. However, in the 30-day time frame, Oscar Health Inc (NYSE:OSCR) is 62.35% up. Looking at the short shares, we see there were 6.5 million shares sold at short interest cover period of 5.37 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.50, meaning bulls need an upside of 12.84% from its current market value. According to analyst projections, OSCR’s forecast low is $8.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -44.93% plunge from its current level, while the stock would need to tank 3.38% for it to hit the projected low.

Oscar Health Inc (OSCR) estimates and forecasts

Data shows that the Oscar Health Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 10.70% over the past 6 months, a 54.39% in annual growth rate that is considerably higher than the industry average of 12.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Oscar Health Inc will rise 32.40%, while the growth in revenue is estimated to hit 200.00% for the next quarter. Year-over-year growth is forecast to reach 47.60% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $1.42 billion. 1 analysts are of the opinion that Oscar Health Inc’s revenue for the quarter ending Mar 2024 will be $1.66 billion. The company’s revenue for the corresponding quarters a year ago was $995.13 million and $1.15 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 42.50%. The estimates for the next quarter sales put growth at 44.40%.

The 2023 estimates are for Oscar Health Inc earnings to increase by 55.35%.

OSCR Dividends

Oscar Health Inc is expected to release its next quarterly earnings report between February 07 and February 12.

Oscar Health Inc (NYSE:OSCR)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.64% of Oscar Health Inc shares while 82.80% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.18%. There are 82.80% institutions holding the Oscar Health Inc stock share, with Alphabet Inc. the top institutional holder. As of Jun 29, 2023, the company held 12.87% of the shares, roughly 24.04 million OSCR shares worth $193.79 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.64% or 12.4 million shares worth $99.92 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Longleaf Partners Small-Cap Fund and Vanguard Total Stock Market Index Fund. With 5.91 million shares estimated at $47.66 million under it, the former controlled 3.17% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.11% of the shares, roughly 3.94 million shares worth around $31.73 million.

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