Needham & Company LLC Forecasts Strong Price Appreciation for Omada Health (NASDAQ:OMDA) Stock

Key Points

• Needham & Company LLC raised its price target for Omada Health (NASDAQ:OMDA) from $23.00 to $24.00, suggesting a potential upside of 23.33%.
• Multiple research firms have initiated coverage on Omada Health, with Goldman Sachs setting a target price of $29.00 and Canaccord Genuity aiming for $27.00.
• Omada Health's stock closed at $19.46, having a 52-week low of $14.14 and a high of $28.40, while the company reported a quarterly EPS of ($0.22), missing expectations.

Omada Health (NASDAQ:OMDA - Get Free Report) had its price target upped by investment analysts at Needham & Company LLC from $23.00 to $24.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 23.33% from the stock's previous close.

A number of other research firms have also recently weighed in on OMDA. The Goldman Sachs Group assumed coverage on Omada Health in a research report on Tuesday, July 1st. They set a "buy" rating and a $29.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Omada Health in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $19.00 price objective on the stock. Canaccord Genuity Group assumed coverage on shares of Omada Health in a research report on Tuesday, July 1st. They set a "buy" rating and a $27.00 price objective for the company. Morgan Stanley initiated coverage on shares of Omada Health in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 target price for the company. Finally, Evercore ISI boosted their price target on shares of Omada Health from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Omada Health has an average rating of "Moderate Buy" and an average price target of $24.00.

Omada Health Price Performance

Shares of OMDA opened at $19.46 on Friday. Omada Health has a 52-week low of $14.14 and a 52-week high of $28.40.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07).

Institutional Trading of Omada Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Sanofi purchased a new stake in shares of Omada Health during the 2nd quarter worth approximately $9,606,000. Emerald Advisers LLC acquired a new stake in Omada Health in the second quarter valued at $5,089,000. Jennison Associates LLC purchased a new position in shares of Omada Health in the second quarter valued at $4,580,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Omada Health during the 2nd quarter worth $2,950,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Omada Health in the 2nd quarter worth about $640,000.

Omada Health Company Profile

Omada's mission is to bend the curve. Our hope is that, one day, tomorrow's epidemiologists will notice a bend in disease curves, wonder what might be happening, and conclude that part of that impact has been Omada. As part of that mission, we strive to inspire and enable people to make lasting health changes on their own terms.

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