BTIG analyst David Larsen notes Sharecare’s stock sold off after the company reported Q4 2022 results, due mainly to the 2023 guidance which came in well behind consensus expectations. While the reported numbers are lower than expectations the firm’s view is that the core business is still doing well. BITG notes that Sharecare continues to add about 15+ new Enterprise clients each year, utilization levels of the platform are high, large and high-profile clients are being added like BCBS of Michigan, CareFirst was renewed, the technology itself is very effective and durable, and Sharecare’s gross margin is good, at 50%+. The firm maintains a Buy rating on the stock with a price target of $5.
Published first on TheFly
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