Published on 18 Mar 2024 on Simply Wall St. via Yahoo Finance
Downgrade: Here's How Analysts See Clover Health Investments, Corp. (NASDAQ:CLOV) Performing In The...
The latest analyst coverage could presage a bad day for Clover Health Investments, Corp. (NASDAQ:CLOV), with the analysts making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. Both revenue and earnings per share (EPS) forecasts went under the knife, suggesting analysts have soured majorly on the business.
Following the latest downgrade, the three analysts covering Clover Health Investments provided consensus estimates of US$1.3b revenue in 2024, which would reflect a painful 37% decline on its sales over the past 12 months. The loss per share is anticipated to greatly reduce in the near future, narrowing 46% to US$0.23. Yet before this consensus update, the analysts had been forecasting revenues of US$1.5b and losses of US$0.17 per share in 2024. Ergo, there's been a clear change in sentiment, with the analysts administering a notable cut to this year's revenue estimates, while at the same time increasing their loss per share forecasts.
View our latest analysis for Clover Health Investments