Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $3.23 Consensus Target Price from Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $3.2333.

A number of brokerages recently weighed in on CLOV. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.70 price objective on shares of Clover Health Investments in a report on Tuesday, January 20th. Zacks Research cut Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Finally, Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th.

Clover Health Investments Price Performance

CLOV stock opened at $2.16 on Monday. Clover Health Investments has a 1-year low of $1.93 and a 1-year high of $3.92. The firm has a fifty day moving average price of $2.31 and a two-hundred day moving average price of $2.62. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -12.71 and a beta of 2.15.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Clover Health Investments had a negative return on equity of 25.17% and a negative net margin of 4.45%.The company had revenue of $487.71 million during the quarter, compared to analyst estimates of $467.06 million. As a group, analysts expect that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Forum Financial Management LP raised its stake in Clover Health Investments by 8.7% during the 3rd quarter. Forum Financial Management LP now owns 37,237 shares of the company’s stock valued at $114,000 after purchasing an additional 2,990 shares during the period. Alliancebernstein L.P. raised its position in Clover Health Investments by 1.2% during the third quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock valued at $1,273,000 after buying an additional 5,085 shares during the period. ProShare Advisors LLC lifted its stake in Clover Health Investments by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock worth $176,000 after acquiring an additional 5,660 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in Clover Health Investments by 53.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock worth $52,000 after acquiring an additional 5,926 shares during the period. Finally, Allworth Financial LP grew its stake in Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after acquiring an additional 6,527 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.