Should I buy or sell InnovAge stock right now?

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for InnovAge in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" INNV shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in INNV, but not buy additional shares or sell existing shares. View INNV analyst ratings or view top-rated stocks .

What is InnovAge's stock price target for 2024?

2 brokerages have issued 12-month price targets for InnovAge's stock. Their INNV share price targets range from $6.00 to $7.00. On average, they expect the company's stock price to reach $6.50 in the next twelve months. This suggests a possible upside of 64.6% from the stock's current price. View analysts price targets for INNV or view top-rated stocks among Wall Street analysts .

How have INNV shares performed in 2024?

InnovAge's stock was trading at $6.00 at the start of the year. Since then, INNV shares have decreased by 34.2% and is now trading at $3.95. View the best growth stocks for 2024 here .

When is InnovAge's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024. View our INNV earnings forecast .

How were InnovAge's earnings last quarter?

InnovAge Holding Corp. (NASDAQ:INNV) released its earnings results on Monday, February, 5th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm earned $188.90 million during the quarter, compared to analysts' expectations of $181.51 million. InnovAge had a negative trailing twelve-month return on equity of 10.53% and a negative net margin of 4.38%. During the same period last year, the company earned ($0.07) EPS.

What guidance has InnovAge issued on next quarter's earnings?

InnovAge issued an update on its FY 2024 earnings guidance on Tuesday, February, 6th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $725.0 million-$775.0 million, compared to the consensus revenue estimate of $755.9 million.

When did InnovAge IPO?

InnovAge (INNV) raised $301 million in an initial public offering on Thursday, March 4th 2021. The company issued 16,700,000 shares at a price of $17.00-$19.00 per share. J.P. Morgan, Barclays, Goldman Sachs and Citigroup served as the underwriters for the IPO and Baird, William Blair, Piper Sandler, Capital One Securities, Loop Capital Markets, Siebert Williams Shank and Roberts & Ryan were co-managers.

How do I buy shares of InnovAge?

Shares of INNV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:INNV

InnovAge (INNV) Stock Price, News & Analysis

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$3.95

-0.05 (-1.25%)

(As of 04/19/2024 ET)

Compare

Today's Range: $3.94
▼
$4.05
50-Day Range: $3.91
▼
$5.89
52-Week Range: $3.82
▼
$8.05

Volume: 14,097 shs
Average Volume: 23,726 shs
Market Capitalization: $536.81 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $6.50

Get InnovAge alerts:

InnovAge MarketRank™ Stock Analysis

Analyst Rating: Hold
2.00 Rating Score
Upside/Downside: 64.6% Upside
$6.50 Price Target
Short Interest: Bearish
1.63% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.79
Based on 4 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($0.14) to $0.01 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

0.98 out of 5 stars

Medical Sector

788th out of 911 stocks

Health Services Industry

8th out of 10 stocks

3.0

Analyst's Opinion

Consensus Rating
InnovAge has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings.
Amount of Analyst Coverage
InnovAge has only been the subject of 2 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
1.63% of the float of InnovAge has been sold short.
Short Interest Ratio / Days to Cover
InnovAge has a short interest ratio ("days to cover") of 15.6, which indicates bearish sentiment.
Change versus previous month
Short interest in InnovAge has recently decreased by 4.03%, indicating that investor sentiment is improving.

0.0

Dividend Strength

Dividend Yield
InnovAge does not currently pay a dividend.
Dividend Growth
InnovAge does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for INNV.

2.7

News and Social Media Coverage

News Sentiment
InnovAge has a news sentiment score of 0.79. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.52 average news sentiment score of Medical companies.
News Coverage This Week
MarketBeat has tracked 4 news articles for InnovAge this week, compared to 1 article on an average week.
Search Interest
Only 1 people have searched for INNV on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, InnovAge insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.41% of the stock of InnovAge is held by insiders.
Percentage Held by Institutions
Only 12.26% of the stock of InnovAge is held by institutions.

0.6

Earnings and Valuation

Earnings Growth
Earnings for InnovAge are expected to grow in the coming year, from ($0.14) to $0.01 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of InnovAge is -15.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of InnovAge is -15.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
InnovAge has a P/B Ratio of 1.77. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About InnovAge Stock (NASDAQ:INNV)

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. The company manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management. The company serves participants in the United States; and operates PACE centers in Colorado, California, New Mexico, Pennsylvania, and Virginia. The company was formerly known as TCO Group Holdings, Inc. and changed its name to InnovAge Holding Corp. in January 2021. InnovAge Holding Corp. was founded in 2007 and is headquartered in Denver, Colorado.

INNV Stock Price History

30 days | 90 days | 365 days | Advanced Chart

INNV Stock News Headlines

April 14, 2024 | americanbankingnews.com

InnovAge (NASDAQ:INNV) Shares Gap Down to $4.10

April 5, 2024 | investorplace.com

3 Healthcare Stocks Short Sellers Are Prescribing for Trouble

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Forget Bitcoin. Crypto Millionaire Predicts 8,788% Gains For THIS

March 4, 2024 | globenewswire.com

InnovAge Launches First PACE Center in Florida Providing Comprehensive Healthcare Program for Seniors to Promote Independence

February 9, 2024 | au.lifestyle.yahoo.com

Bootstrapped for 8 years, Xensam has now snapped up $40M for AI that manages software assets

February 9, 2024 | au.lifestyle.yahoo.com

Indian parliamentary panel red-flags PhonePe and Google Pay cornering 83% of India's UPI payments

February 8, 2024 | msn.com

Take-Two CEO: ‘GTA 6’ Still Set for 2025, ‘Significant’ Cost Cuts Coming After Weak Outlook but No Current Layoff Plans

February 8, 2024 | msn.com

Arm becomes Britain's sixth most valuable company after shares rise 50%

April 19, 2024 | Paradigm Press (Ad)

Forget Bitcoin. Crypto Millionaire Predicts 8,788% Gains For THIS

February 8, 2024 | markets.businessinsider.com

InnovAge Holding: A Cautious Hold Amidst Mixed Financial Signals

February 7, 2024 | msn.com

US officials believe Chinese hackers lurk in critical infrastructure

February 6, 2024 | benzinga.com

Recap: InnovAge Holding Q2 Earnings

February 6, 2024 | msn.com

InnovAge Holding Corp. (INNV) Reports Q2 Loss, Tops Revenue Estimates

February 6, 2024 | finance.yahoo.com

InnovAge Holding Corp (INNV) Reports Fiscal Q2 2024 Earnings: Key Financial Metrics Revealed

January 12, 2024 | morningstar.com

InnovAge Holding Corp INNV

December 14, 2023 | seekingalpha.com

InnovAge Revenue Ticks Up, But Challenges Remain

November 12, 2023 | finance.yahoo.com

InnovAge Holding Corp. (NASDAQ:INNV) Q1 2024 Earnings Call Transcript

November 7, 2023 | finance.yahoo.com

InnovAge Holding Corp. (INNV) Reports Q1 Loss, Tops Revenue Estimates

October 24, 2023 | finance.yahoo.com

InnovAge to Announce Fiscal First Quarter 2024 Financial Results and Host Conference Call Tuesday, November 7, 2023

October 2, 2023 | finance.yahoo.com

InnovAge Names Darlene Flaig as New Chief Nursing Officer

September 19, 2023 | seekingalpha.com

InnovAge Holding Corp.: Enrollment Growth Metrics Suggest Business Is Recovering Well

September 13, 2023 | markets.businessinsider.com

InnovAge Holding (INNV) Gets a Hold from Citi

September 12, 2023 | marketwatch.com

InnovAge Holding Shares Slide 6.9% After Wider-Than-Expected Loss

September 12, 2023 | finance.yahoo.com

InnovAge Holding Corp. (INNV) Reports Q4 Loss, Tops Revenue Estimates

September 12, 2023 | seekingalpha.com

InnovAge GAAP EPS of -$0.09 misses by $0.05, revenue of $176.87M beats by $1.1M

September 12, 2023 | finance.yahoo.com

InnovAge Announces Financial Results For the Fourth Quarter and Fiscal Year Ended June 30, 2023

See More Headlines

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Company Calendar

Last Earnings: 2/05/2024
Today: 4/19/2024
Next Earnings (Estimated): 5/14/2024
Fiscal Year End: 6/30/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Medical
Industry: Health services
Sub-Industry: N/A
Current Symbol: NASDAQ:INNV
CUSIP: N/A
CIK: 1834376
Web: www.innovage.com
Phone: 844-803-8745
Fax: N/A
Employees: 2,100
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $6.50
High Stock Price Target: $7.00
Low Stock Price Target: $6.00
Potential Upside/Downside: +64.6%
Consensus Rating: Hold
Rating Score (0-4): 2.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.25)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-40,670,000.00
Net Margins: -4.38%
Pretax Margin: -4.80%
Return on Equity: -10.53%
Return on Assets: -5.69%

Debt

Debt-to-Equity Ratio: 0.26
Current Ratio: 1.27
Quick Ratio: 1.27

Sales & Book Value

Annual Sales: $688.09 million
Price / Sales: 0.78
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $2.23 per share
Price / Book: 1.77

Miscellaneous

Outstanding Shares: 135,900,000
Free Float: 135,342,000
Market Cap: $536.81 million
Optionable: Optionable
Beta: 0.15

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Key Executives

Mr. Patrick Blair (Age 53)
President & CEO
Comp: $1.51M
Ms. Nicole D'Amato (Age 45)
Chief Legal Officer & Corporate Secretary
Comp: $678.76k
Dr. Richard A. Feifer FACP (Age 57)
M.D., M.P.H., Chief Medical Officer
Comp: $588.97k
Mr. Edward Moore Kennedy Jr. (Age 63)
J.D., Independent Director
Comp: $100k
Hon. Marilyn Barbour Tavenner M.H.A. (Age 62)
R.N., Independent Director
Comp: $120k
Mr. Benjamin Crowninshield Adams (Age 60)
Chief Financial Officer
Ms. Christine Bent (Age 53)
Chief Operations Officer
Ms. Cara Babachicos
Chief Information Officer
Mr. Ryan Kubota
Director of Investor Relations
Ms. Olivia Patton
Chief Compliance Officer

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

INNV Stock Analysis - Frequently Asked Questions

Should I buy or sell InnovAge stock right now?: 2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for InnovAge in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" INNV shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in INNV, but not buy additional shares or sell existing shares.
View INNV analyst ratings or view top-rated stocks.
What is InnovAge's stock price target for 2024?: 2 brokerages have issued 12-month price targets for InnovAge's stock. Their INNV share price targets range from $6.00 to $7.00. On average, they expect the company's stock price to reach $6.50 in the next twelve months. This suggests a possible upside of 64.6% from the stock's current price.
View analysts price targets for INNV or view top-rated stocks among Wall Street analysts.
How have INNV shares performed in 2024?: InnovAge's stock was trading at $6.00 at the start of the year. Since then, INNV shares have decreased by 34.2% and is now trading at $3.95.
View the best growth stocks for 2024 here.
When is InnovAge's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024.
View our INNV earnings forecast.

How were InnovAge's earnings last quarter?: InnovAge Holding Corp. (NASDAQ:INNV) released its earnings results on Monday, February, 5th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm earned $188.90 million during the quarter, compared to analysts' expectations of $181.51 million. InnovAge had a negative trailing twelve-month return on equity of 10.53% and a negative net margin of 4.38%. During the same period last year, the company earned ($0.07) EPS.
What guidance has InnovAge issued on next quarter's earnings?: InnovAge issued an update on its FY 2024 earnings guidance on Tuesday, February, 6th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $725.0 million-$775.0 million, compared to the consensus revenue estimate of $755.9 million.
When did InnovAge IPO?: InnovAge (INNV) raised $301 million in an initial public offering on Thursday, March 4th 2021. The company issued 16,700,000 shares at a price of $17.00-$19.00 per share. J.P. Morgan, Barclays, Goldman Sachs and Citigroup served as the underwriters for the IPO and Baird, William Blair, Piper Sandler, Capital One Securities, Loop Capital Markets, Siebert Williams Shank and Roberts & Ryan were co-managers.
How do I buy shares of InnovAge?: Shares of INNV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:INNV) was last updated on 4/19/2024 by MarketBeat.com Staff

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InnovAge (INNV) Stock Price, News & Analysis

InnovAge MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

Company Ownership

Earnings and Valuation

About InnovAge Stock (NASDAQ:INNV)

INNV Stock Price History

INNV Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Institutional Ownership

INNV Stock Analysis - Frequently Asked Questions

Overall MarketRank^™