- Clover Health Investments ( NASDAQ: CLOV ) is up 16% in Tuesday afternoon trading after posting an unexpectedly strong Q4 2022 revenue beat.
- Revenue in the quarter jumped ~108% compared to the prior-year period to $898.8M (consensus ~$787.5M).
- Cowen's Gary Taylor, who has a market perform rating and a $1.75 price target (52% upside based on Monday's close), said that while the company is projecting Medicare Advantage growth above the industry average, it's below its own prior year rates due to "a heightened competitive landscape."
- Seeking Alpha's Quant Rating views Clover Health ( CLOV ) as a hold.
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Clover Health up 16% as soaring Q4 2022 revenue boosts optimism