Market News

EHTH Surges after Better-than-Expected Preliminary Results

Shares of eHealth (NASDAQ: EHTH) surged by more than 15% in pre-market trading after the private online health insurance marketplace announced preliminary Q4 and FY22 results.

In FY22, the company expects to report revenues in the range of $395 to $405 million, better than its prior guidance of $375 to $395 million. In Q4, EHTH anticipates revenues to be between $190 million and $200 million.

Net loss for FY22 is also projected to be between $93 million and $88 million versus the company’s earlier guidance in the range of $115 million to $92 million.

More importantly, EHTH “exceeded its cost reduction goals for the full year 2022 by delivering over $110 million in net operating cost savings compared to the full year 2021.”

Analysts are sidelined about EHTH stock with a Hold consensus rating based on one Buy and four Holds.

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