Clover Health Blows Past Expectations. Time to Buy?
The past year has been a lousy one to be a Clover Health (NASDAQ: CLOV) shareholder. From its public market debut last January through Feb. 24, the stock lost around 87% of its value.
But things are finally looking up for Clover Health. A fourth-quarter earnings report delivered after the market closed on Wednesday pushed the stock higher and a rosy outlook suggests that better days are ahead. Clover Health is a digital health company that aims to revolutionize the way doctors provide care to their Medicare patients. Let's take a closer look to see if this stock can keep climbing higher.
Clover Health surprised analysts with a fourth-quarter report that suggests its business is a lot stronger than it looked just a few months ago. Its fourth-quarter revenue that grew 160% year over year to $432 million was $24 million more than the average estimate on Wall Street.
Source Fool.com
