Omada Health (NASDAQ:OMDA) Receives Buy Rating from Needham & Company LLC

Key Points

• Needham reiterated a "Buy" rating on Omada Health with a $28.00 price target, implying roughly a 70.7% upside from the current share price.
• The stock carries a consensus "Moderate Buy" from analysts (10 Buys, 2 Holds, 1 Sell) with an average price target of $21.64.
• Omada beat quarterly EPS estimates (reported -$0.05 vs. -$0.08) on $78.05M in revenue; shares opened at $16.40, trade in a 12‑month range of $10.28–$28.40, and the company has a market cap of about $975M.

Omada Health (NASDAQ:OMDA - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $28.00 price target on the stock. Needham & Company LLC's target price points to a potential upside of 70.73% from the company's current price.

OMDA has been the topic of several other research reports. BMO Capital Markets cut their price objective on Omada Health from $27.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. Wells Fargo & Company began coverage on Omada Health in a report on Thursday, January 8th. They issued an "equal weight" rating and a $17.00 price target for the company. Citizens Jmp began coverage on Omada Health in a research note on Tuesday, April 14th. They set an "outperform" rating and a $18.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Omada Health from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Friday, March 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Omada Health from $32.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, March 12th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Omada Health presently has a consensus rating of "Moderate Buy" and an average price target of $21.64.

Omada Health Price Performance

OMDA opened at $16.40 on Friday. Omada Health has a 12-month low of $10.28 and a 12-month high of $28.40. The stock has a market capitalization of $974.49 million and a PE ratio of -96.47. The firm's fifty day moving average price is $13.55 and its 200 day moving average price is $15.85.

Omada Health (NASDAQ:OMDA - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $78.05 million during the quarter. On average, equities research analysts forecast that Omada Health will post -0.04 earnings per share for the current fiscal year.

Insider Transactions at Omada Health

In related news, CFO Steven L. Cook sold 1,884 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $13.94, for a total value of $26,262.96. Following the sale, the chief financial officer owned 200,512 shares of the company's stock, valued at approximately $2,795,137.28. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sean P. Duffy sold 4,063 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $14.34, for a total value of $58,263.42. Following the transaction, the chief executive officer owned 117,598 shares of the company's stock, valued at approximately $1,686,355.32. The trade was a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 8,776 shares of company stock worth $120,483.

Institutional Trading of Omada Health

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in Omada Health during the 2nd quarter valued at about $637,000. Walleye Capital LLC bought a new stake in shares of Omada Health during the second quarter valued at approximately $458,000. Ilex Capital Partners UK LLP bought a new stake in shares of Omada Health during the second quarter valued at approximately $201,000. Soros Fund Management LLC acquired a new position in shares of Omada Health during the second quarter worth approximately $640,000. Finally, Raymond James Financial Inc. bought a new position in Omada Health in the 2nd quarter worth approximately $32,000.

Omada Health Company Profile

Omada Health is a digital health company that specializes in the prevention and management of chronic conditions through personalized, technology-driven programs. The company's platform combines data analytics, behavioral science and human coaching to support individuals at risk for or living with conditions such as prediabetes, type 2 diabetes, hypertension and musculoskeletal disorders. Participants access the program via a mobile app or web portal, where they receive tailored curriculum, feedback on health metrics and ongoing virtual coaching.

In addition to its core disease-management offerings, Omada Health has expanded its services to include mental health support and digital therapeutics for weight management.

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