Canaccord Genuity Group Issues Positive Forecast for Omada Health (NASDAQ:OMDA) Stock Price

Key Points

• Canaccord Genuity Group raised its price target for Omada Health from $27.00 to $28.00, indicating a potential upside of 47.21% from the current stock price.
• Omada Health reported a quarterly loss of ($0.22) per share, missing the analysts' estimates, despite generating revenue of $61.37 million, exceeding expectations.
• The stock has received numerous ratings, with an average rating of "Moderate Buy" and a price target of $24.57, suggesting overall positive sentiment among analysts.

Omada Health (NASDAQ:OMDA - Free Report) had its price target raised by Canaccord Genuity Group from $27.00 to $28.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded Omada Health to a "hold" rating in a research report on Monday, June 16th. Evercore ISI lifted their price objective on Omada Health from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Barclays lifted their price objective on Omada Health from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. initiated coverage on Omada Health in a research report on Tuesday, July 1st. They set an "overweight" rating and a $19.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on Omada Health in a report on Tuesday, July 1st. They issued a "buy" rating and a $29.00 price target for the company. One 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 stock has a consensus rating of "Moderate Buy" and an average price target of $24.57.

Omada Health Trading Up 0.3%

OMDA traded up $0.06 during trading on Friday, reaching $19.35. The company's stock had a trading volume of 80,890 shares, compared to its average volume of 728,256. Omada Health has a 52-week low of $14.14 and a 52-week high of $28.40. The firm has a fifty day moving average of $17.76.

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

Institutional Trading of Omada Health

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of Omada Health during the 2nd quarter worth $414,000. Eisler Capital Management Ltd. acquired a new stake in shares of Omada Health during the 2nd quarter worth $545,000. Geode Capital Management LLC acquired a new stake in shares of Omada Health during the 2nd quarter worth $637,000. Teacher Retirement System of Texas purchased a new stake in Omada Health during the 2nd quarter worth $640,000. Finally, Franklin Resources Inc. purchased a new stake in Omada Health during the 2nd quarter worth $2,695,000.

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.