Omada Health (NASDAQ:OMDA) Price Target Raised to $29.00

Omada Health (NASDAQ:OMDA) had its price objective hoisted by equities research analysts at Barclays from $28.00 to $29.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 38.42% from the stock’s previous close.

A number of other brokerages also recently issued reports on OMDA. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their price target on shares of Omada Health from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Robert W. Baird assumed coverage on shares of Omada Health in a research report on Friday, September 5th. They set a “neutral” rating and a $24.00 price objective on the stock. Needham & Company LLC boosted their price objective on Omada Health from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Finally, Evercore ISI lifted their price objective on shares of Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.25.

Omada Health Stock Performance

Omada Health stock traded down $0.92 during trading hours on Friday, hitting $20.95. The stock had a trading volume of 855,283 shares, compared to its average volume of 576,102. The stock has a 50-day simple moving average of $23.77. Omada Health has a 12-month low of $14.14 and a 12-month high of $28.40.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). The firm had revenue of $61.37 million for the quarter, compared to analysts’ expectations of $55.17 million.

Hedge Funds Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cigna Investments Inc. New purchased a new stake in Omada Health during the third quarter worth $76,161,000. Perceptive Advisors LLC bought a new position in shares of Omada Health in the 2nd quarter worth $44,402,000. Loomis Sayles & Co. L P bought a new stake in Omada Health during the second quarter valued at about $19,948,000. Sanofi purchased a new position in Omada Health in the second quarter valued at about $9,606,000. Finally, Federated Hermes Inc. acquired a new position in Omada Health during the 2nd quarter valued at about $9,150,000.

Omada Health Company Profile

Omada’s mission is to bend the curve. Our hope is that, one day, tomorrow’s epidemiologists will notice a bend in disease curves, wonder what might be happening, and conclude that part of that impact has been Omada. As part of that mission, we strive to inspire and enable people to make lasting health changes on their own terms.