What is InnovAge's stock price target for 2024?

0 Wall Street analysts have issued twelve-month target prices for InnovAge's shares. Their INNV share price targets range from $8.00 to $8.00. On average, they predict the company's share price to reach $8.00 in the next twelve months. This suggests a possible upside of 42.9% from the stock's current price. View analysts price targets for INNV or view top-rated stocks among Wall Street analysts .

How have INNV shares performed in 2023?

InnovAge's stock was trading at $5.70 at the beginning of the year. Since then, INNV stock has decreased by 1.8% and is now trading at $5.60. View the best growth stocks for 2023 here .

Are investors shorting InnovAge?

InnovAge saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 432,700 shares, an increase of 19.4% from the October 31st total of 362,300 shares. Based on an average daily volume of 40,100 shares, the days-to-cover ratio is presently 10.8 days. Approximately 2.3% of the shares of the stock are sold short. View InnovAge's Short Interest .

When is InnovAge's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 6th 2024. View our INNV earnings forecast .

How were InnovAge's earnings last quarter?

InnovAge Holding Corp. (NASDAQ:INNV) released its quarterly earnings results on Tuesday, November, 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by $0.04. The firm earned $182.49 million during the quarter, compared to the consensus estimate of $176.81 million. InnovAge had a negative net margin of 5.42% and a negative trailing twelve-month return on equity of 12.38%.

What guidance has InnovAge issued on next quarter's earnings?

InnovAge issued an update on its FY 2024 earnings guidance on Tuesday, September, 12th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $725.00 million-$775.00 million, compared to the consensus revenue estimate of $742.41 million.

When did InnovAge IPO?

(INNV) raised $301 million in an initial public offering on Thursday, March 4th 2021. The company issued 16,700,000 shares at $17.00-$19.00 per share. J.P. Morgan, Barclays, Goldman Sachs and Citigroup served as the underwriters for the IPO and Baird, William Blair, Piper Sandler, Capital One Securities, Loop Capital Markets, Siebert Williams Shank and Roberts & Ryan were co-managers.

Who are InnovAge's major shareholders?

InnovAge's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Kent Lake Capital LLC (1.03%), Northern Trust Corp (0.27%), Cambiar Investors LLC (0.22%), Federated Hermes Inc. (0.16%), Charles Schwab Investment Management Inc. (0.11%) and Bank of New York Mellon Corp (0.04%).

How do I buy shares of InnovAge?

Shares of INNV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

InnovAge Stock Price, News & Analysis (NASDAQ:INNV)

$5.60

-0.08 (-1.41%)

(As of 12/7/2023 ET)

Compare

Today's Range: $5.53
▼
$5.86
50-Day Range: $5.18
▼
$6.54
52-Week Range: $5.04
▼
$8.15

Volume: 12,773 shs
Average Volume: 35,955 shs
Market Capitalization: $760.96 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $8.00

InnovAge MarketRank™ Stock Analysis

Analyst Rating: 0.00 Rating Score
Upside/Downside: 42.9% Upside
$8.00 Price Target
Short Interest: Bearish
2.31% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: N/A
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($0.10) to $0.04 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.03 out of 5 stars

Medical Sector

944th out of 959 stocks

Health Services Industry

12th out of 12 stocks

2.0

Analyst's Opinion

Price Target Upside/Downside
According to analysts' consensus price target of $8.00, InnovAge has a forecasted upside of 42.9% from its current price of $5.60.
Amount of Analyst Coverage
InnovAge has received no research coverage in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
2.31% of the float of InnovAge has been sold short.
Short Interest Ratio / Days to Cover
InnovAge has a short interest ratio ("days to cover") of 10.8, which indicates bearish sentiment.
Change versus previous month
Short interest in InnovAge has recently increased by 19.43%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
InnovAge does not currently pay a dividend.
Dividend Growth
InnovAge does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for INNV.

N/A

News and Social Media Coverage

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, InnovAge insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.41% of the stock of InnovAge is held by insiders.
Percentage Held by Institutions
Only 12.17% of the stock of InnovAge is held by institutions.

0.6

Earnings and Valuation

Earnings Growth
Earnings for InnovAge are expected to grow in the coming year, from ($0.10) to $0.04 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of InnovAge is -19.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of InnovAge is -19.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
InnovAge has a P/B Ratio of 2.51. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About InnovAge Stock (NASDAQ:INNV)

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. The company manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management. The company serves participants in the United States; and operates PACE centers in Colorado, California, New Mexico, Pennsylvania, and Virginia. The company was formerly known as TCO Group Holdings, Inc. and changed its name to InnovAge Holding Corp. in January 2021. InnovAge Holding Corp. was founded in 2007 and is headquartered in Denver, Colorado.

INNV Stock Price History

30 days | 90 days | 365 days | Advanced Chart

INNV Stock News Headlines

November 12, 2023 | finance.yahoo.com

InnovAge Holding Corp. (NASDAQ:INNV) Q1 2024 Earnings Call Transcript

November 7, 2023 | finance.yahoo.com

InnovAge Holding Corp. (INNV) Reports Q1 Loss, Tops Revenue Estimates

December 7, 2023 | Edge On The Street (Ad)

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October 24, 2023 | finance.yahoo.com

InnovAge to Announce Fiscal First Quarter 2024 Financial Results and Host Conference Call Tuesday, November 7, 2023

October 2, 2023 | finance.yahoo.com

InnovAge Names Darlene Flaig as New Chief Nursing Officer

September 19, 2023 | seekingalpha.com

InnovAge Holding Corp.: Enrollment Growth Metrics Suggest Business Is Recovering Well

September 13, 2023 | markets.businessinsider.com

InnovAge Holding (INNV) Gets a Hold from Citi

September 12, 2023 | marketwatch.com

InnovAge Holding Shares Slide 6.9% After Wider-Than-Expected Loss

December 7, 2023 | Edge On The Street (Ad)

Hunting for Domestic Vanadium - The U.S. Govt. Did WHAT?

September 12, 2023 | finance.yahoo.com

InnovAge Holding Corp. (INNV) Reports Q4 Loss, Tops Revenue Estimates

September 12, 2023 | seekingalpha.com

InnovAge GAAP EPS of -$0.09 misses by $0.05, revenue of $176.87M beats by $1.1M

September 12, 2023 | finance.yahoo.com

InnovAge Announces Financial Results For the Fourth Quarter and Fiscal Year Ended June 30, 2023

See More Headlines

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Company Calendar

Last Earnings: 11/07/2023
Today: 12/07/2023
Next Earnings (Estimated): 2/06/2024
Fiscal Year End: 6/30/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Health services
Sub-Industry: N/A
Sector: Medical
Current Symbol: NASDAQ:INNV
CUSIP: N/A
CIK: 1834376
Web: www.innovage.com
Phone: 844-803-8745
Fax: N/A
Employees: 2,100
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $8.00
High Stock Price Target: $8.00
Low Stock Price Target: $8.00
Potential Upside/Downside: +42.9%
Consensus Rating
Rating Score (0-4): 0.00
Research Coverage: 0 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.29)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-40,670,000.00
Net Margins: -5.42%
Pretax Margin: -6.34%
Return on Equity: -12.38%
Return on Assets: -6.80%

Debt

Debt-to-Equity Ratio: 0.26
Current Ratio: 1.41
Quick Ratio: 1.41

Sales & Book Value

Annual Sales: $699.35 million
Price / Sales: 1.09
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $2.23 per share
Price / Book: 2.51

Miscellaneous

Outstanding Shares: 135,885,000
Free Float: 135,328,000
Market Cap: $760.96 million
Optionable: Optionable
Beta: 0.19

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Key Executives

Mr. Patrick Blair (Age 52)
President & CEO
Comp: $1.51M
Ms. Nicole D'Amato (Age 44)
Chief Legal Officer & Corporate Secretary
Comp: $678.76k
Dr. Richard A. Feifer FACP (Age 56)
M.D., M.P.H., Chief Medical Officer
Comp: $588.97k
Mr. Edward Moore Kennedy Jr. (Age 62)
J.D., Independent Director
Comp: $100k
Hon. Marilyn Barbour Tavenner M.H.A. (Age 62)
R.N., Independent Director
Comp: $120k
Mr. Benjamin Crowninshield Adams (Age 59)
Chief Financial Officer
Ms. Christine Bent (Age 53)
Chief Operations Officer
Ms. Cara Babachicos
Chief Information Officer
Mr. Ryan Kubota
Director of Investor Relations
Ms. Olivia Patton
Chief Compliance Officer

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

INNV Stock Analysis - Frequently Asked Questions

What is InnovAge's stock price target for 2024?: 0 Wall Street analysts have issued twelve-month target prices for InnovAge's shares. Their INNV share price targets range from $8.00 to $8.00. On average, they predict the company's share price to reach $8.00 in the next twelve months. This suggests a possible upside of 42.9% from the stock's current price.
View analysts price targets for INNV or view top-rated stocks among Wall Street analysts.
How have INNV shares performed in 2023?: InnovAge's stock was trading at $5.70 at the beginning of the year. Since then, INNV stock has decreased by 1.8% and is now trading at $5.60.
View the best growth stocks for 2023 here.
Are investors shorting InnovAge?: InnovAge saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 432,700 shares, an increase of 19.4% from the October 31st total of 362,300 shares. Based on an average daily volume of 40,100 shares, the days-to-cover ratio is presently 10.8 days. Approximately 2.3% of the shares of the stock are sold short.
View InnovAge's Short Interest.
When is InnovAge's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 6th 2024.
View our INNV earnings forecast.
How were InnovAge's earnings last quarter?: InnovAge Holding Corp. (NASDAQ:INNV) released its quarterly earnings results on Tuesday, November, 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by $0.04. The firm earned $182.49 million during the quarter, compared to the consensus estimate of $176.81 million. InnovAge had a negative net margin of 5.42% and a negative trailing twelve-month return on equity of 12.38%.

What guidance has InnovAge issued on next quarter's earnings?: InnovAge issued an update on its FY 2024 earnings guidance on Tuesday, September, 12th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $725.00 million-$775.00 million, compared to the consensus revenue estimate of $742.41 million.
When did InnovAge IPO?: (INNV) raised $301 million in an initial public offering on Thursday, March 4th 2021. The company issued 16,700,000 shares at $17.00-$19.00 per share. J.P. Morgan, Barclays, Goldman Sachs and Citigroup served as the underwriters for the IPO and Baird, William Blair, Piper Sandler, Capital One Securities, Loop Capital Markets, Siebert Williams Shank and Roberts & Ryan were co-managers.
Who are InnovAge's major shareholders?: InnovAge's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Kent Lake Capital LLC (1.03%), Northern Trust Corp (0.27%), Cambiar Investors LLC (0.22%), Federated Hermes Inc. (0.16%), Charles Schwab Investment Management Inc. (0.11%) and Bank of New York Mellon Corp (0.04%).
How do I buy shares of InnovAge?: Shares of INNV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:INNV) was last updated on 12/7/2023 by MarketBeat.com Staff

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