Omada Health (NASDAQ:OMDA) Price Target Raised to $24.00 at Barclays

Key Points

• Barclays raised Omada Health's price target from $21.00 to $24.00, indicating a potential upside of 20.60% from the current stock price.
• Multiple analysts have issued ratings for Omada Health, with Goldman Sachs setting the highest price target at $29.00 and an average consensus target price of $24.43.
• Omada Health's stock increased by 2.3%, trading at $19.90, while the company recently reported a revenue of $61.37 million for the last quarter, surpassing analysts' estimates.

Omada Health (NASDAQ:OMDA - Get Free Report) had its target price boosted by investment analysts at Barclays from $21.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 26.18% from the company's previous close.

A number of other research analysts also recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Omada Health from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday. 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 on the stock. Wall Street Zen raised shares of Omada Health to a "hold" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. started coverage on shares of Omada Health in a research report on Tuesday, July 1st. They set an "overweight" rating and a $19.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on shares of Omada Health in a research report on Tuesday, July 1st. They issued a "buy" rating and a $29.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.57.

Omada Health Stock Performance

Shares of OMDA stock traded down $0.44 during trading hours on Friday, reaching $19.02. 931,444 shares of the stock traded hands, compared to its average volume of 446,599. Omada Health has a 1-year low of $14.14 and a 1-year high of $28.40.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). The company had revenue of $61.37 million for the quarter, compared to analysts' expectations of $55.17 million.

Institutional Trading of Omada Health

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC bought a new stake in shares of Omada Health during the 2nd quarter worth $637,000. Teacher Retirement System of Texas bought a new stake in shares of Omada Health during the 2nd quarter worth $640,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Omada Health during the 2nd quarter worth $2,950,000. Jennison Associates LLC bought a new stake in Omada Health in the 2nd quarter valued at $4,580,000. Finally, Emerald Advisers LLC acquired a new stake in Omada Health in the 2nd quarter worth $5,089,000.

About Omada Health

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.