Royal Bank Of Canada Issues Pessimistic Forecast for GoHealth (NASDAQ:GOCO) Stock Price

Key Points

• The Royal Bank of Canada has lowered its target price for GoHealth (NASDAQ:GOCO) from $18.00 to $12.00, while maintaining a "sector perform" rating on the stock.
• GoHealth's stock has a current price of approximately $5.31, suggesting a potential upside of 126.20% based on the updated target price.
• In its latest earnings report, GoHealth reported a loss of ($1.23) per share, surpassing analysts' expectations, but did not meet revenue forecasts with $94.05 million against an expected $119.76 million.

GoHealth (NASDAQ:GOCO - Get Free Report) had its target price lowered by stock analysts at Royal Bank Of Canada from $18.00 to $12.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 126.20% from the stock's current price.

Several other analysts also recently weighed in on the company. Noble Financial reissued an "outperform" rating on shares of GoHealth in a report on Friday, August 8th. Wall Street Zen downgraded GoHealth from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.00.

GoHealth Price Performance

GOCO stock opened at $5.31 on Thursday. The business has a fifty day moving average of $5.81 and a two-hundred day moving average of $9.18. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 2.64. The stock has a market cap of $151.78 million, a price-to-earnings ratio of -1.47 and a beta of 1.49. GoHealth has a 52-week low of $5.01 and a 52-week high of $21.00.

GoHealth (NASDAQ:GOCO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.23) earnings per share for the quarter, beating analysts' consensus estimates of ($2.60) by $1.37. The business had revenue of $94.05 million during the quarter, compared to analysts' expectations of $119.76 million. GoHealth had a negative return on equity of 8.74% and a negative net margin of 3.21%. As a group, research analysts anticipate that GoHealth will post -5.5 earnings per share for the current year.

Institutional Investors Weigh In On GoHealth

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in GoHealth in the 1st quarter valued at approximately $31,000. Cubist Systematic Strategies LLC purchased a new position in shares of GoHealth during the 4th quarter worth $37,000. Wells Fargo & Company MN increased its holdings in shares of GoHealth by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,760 shares of the company's stock worth $37,000 after buying an additional 607 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of GoHealth during the 1st quarter worth $45,000. Finally, Bank of America Corp DE increased its holdings in shares of GoHealth by 22.8% during the 4th quarter. Bank of America Corp DE now owns 7,831 shares of the company's stock worth $105,000 after buying an additional 1,452 shares during the last quarter. Hedge funds and other institutional investors own 24.21% of the company's stock.

About GoHealth

GoHealth, Inc operates as a health insurance marketplace and Medicare-focused digital health company in the United States. The company operates a technology platform that leverages machine-learning algorithms of insurance behavioral data to optimize the process for helping individuals find the health insurance plan for their specific needs.

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