Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Ehealth (EHTH) today and set a price target of $56. The company’s shares closed yesterday at $45.46, close to its 52-week high of $46.95.
Halper commented:
“. We are reiterating our Overweight rating on EHTH shares and increasing our price target to $56 from $39. After the market close on Tuesday, January 22, EHTH announced its preliminary 4Q18 and 2018 results, headlined by impressive growth in the Medicare segment. The company also provided its initial 2019 guidance. 2019 guidance was well-above our estimates. We have adjusted our model to reflect higher growth rates, a higher share count and our discount rate assumption to reflect our higher confidence level in EHTH’s ability to execute on its growth strategy.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 17.8% and a 63.3% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Hms Holdings Corp, and Tivity Health Inc.
Ehealth has an analyst consensus of Strong Buy, with a price target consensus of $47.50.
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Based on Ehealth’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $8.97 million. In comparison, last year the company had a GAAP net loss of $20.96 million.
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eHealth, Inc. engages in the provision of Internet-based health insurance agency services for individuals, families, and small businesses. It operates through the Medicare and Individual, Family, and Small Business segment. The Medicare segment consists primarily of commissions earned from sale of Medicare-related health insurance plans.
