Why Oscar Health Stock Was Flying High This Week
Next-generation health insurance company Oscar Health (NYSE: OSCR) was looking very healthy as an investment this week. As of mid-afternoon Friday, the company's share price was up by nearly 13% over the course of the five trading days, according to data compiled by S&P Global Market Intelligence. This was due largely to an encouraging quarterly earnings report and a pair of analyst price target increases.
For its fourth quarter of 2022, Oscar earned revenue of just over $995 million, which was more than double the $496 million in the same period the previous year.
On the other hand, the insurer's net loss deepened to $226 million ($1.05 per share) from Q4 2021's nearly $199 million. That meant a mixed quarter, as the average analyst estimates for the two line items were $1.18 billion for revenue and $1.14 per share for net loss.
Source Fool.com
