Why Livongo Health Stock Could Soar Even Higher
Shares of Livongo Health (NASDAQ: LVGO) soared on Tuesday, jumping about 20%. The stock's gain came after the company gave investors an early glimpse into its recently ended second quarter. Revenue crushed both its own guidance and analysts' average estimates, management revealed.
The growth stock's sharp gain added to a huge run-up in Livongo's stock price recently. The stock is up a total of 269% year to date. The company, which provides a platform for helping those with chronic conditions, has impressed investors with surging revenue and improving margins as the COVID-19 pandemic helped bolster demand for its remote care.
While it may be difficult to imagine shares continuing to rise even more after such an incredible run, Livongo's business still has a huge runway ahead of it, setting the stage for more potential strong share price appreciation over the long haul.
Source Fool.com
