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Clover Health Investments
(NASDAQ:CLOV)
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Rating:69Neutral
Price Target:
$5.50
▲(151.14% Upside)
Action:Reiterated
Date:06/19/26
CLOV scores as moderately attractive primarily due to improving fundamentals (positive operating/free cash flow and a low-debt balance sheet) and strong technical momentum (price above key moving averages with positive MACD). The score is held back by weaker valuation signals (negative P/E and no dividend yield provided) and remaining execution risks highlighted in the earnings commentary (notably outpatient utilization and Part D/risk adjustment variability).
Positive Factors
Balance Sheet Strength
A cash-rich, virtually debt-free balance sheet provides durable financial flexibility to self-fund growth, absorb reserve volatility, and invest in care and technology. This lowers solvency risk for an insurer reliant on timely CMS payments and supports multi-year execution of cohort maturation strategies.
Negative Factors
TTM Net Margin Still Negative
Despite quarter-level GAAP profit, trailing results show negative net margins, highlighting that profitability remains uneven. Persistent negative TTM margins indicate remaining execution gaps and constrain return on equity; sustained positive margins across cycles are required to validate the business model long-term.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
A cash-rich, virtually debt-free balance sheet provides durable financial flexibility to self-fund growth, absorb reserve volatility, and invest in care and technology. This lowers solvency risk for an insurer reliant on timely CMS payments and supports multi-year execution of cohort maturation strategies.
Read all positive factors
Clover Health Investments Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how revenue is distributed across different business areas, highlighting which segments drive growth and which may need strategic adjustments.
Shows how revenue is distributed across different business areas, highlighting which segments drive growth and which may need strategic adjustments.
Data provided by:
The Fly
The FlyClover Health Investments (CLOV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.77B
Dividend YieldN/A
Average Volume (3M)9.34M
Price to Earnings (P/E)―
Beta (1Y)1.63
Revenue Growth48.75%
EPS Growth-118.24%
CountryUS
Employees570
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Plans
Share Statistics
EPS (TTM)-0.11
Shares Outstanding430,969,400
10 Day Avg. Volume10,720,894
30 Day Avg. Volume9,343,971
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)3.94
Price to Sales (P/S)0.63
P/FCF Ratio-17.62
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue1.05
Enterprise Value/Gross Profit5.69
Enterprise Value/Ebitda-41.92
Forecast
1Y Price Target
$4.48Price Target Upside104.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.04
Revenue Forecast (FY)$2.91B
Clover Health Investments Business Overview & Revenue Model
Company Description
Clover Health Investments, Corp. is a U.S.-based firm specializing in Medicare Advantage insurance. The company leverages its proprietary software platform, the Clover Assistant, to provide both Preferred Provider Organization (PPO) and Health Mai...
How the Company Makes Money
Clover Health primarily generates revenue in two ways: (1) Insurance revenue from its Medicare Advantage plans and (2) SaaS/technology services revenue from licensing its Clover Assistant platform.
1) Medicare Advantage (Insurance) revenue
- Per-...
Clover Health Investments Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call presented a strong set of operational and financial positives: rapid membership growth (~51% YoY), significant revenue growth (+62% YoY), improved gross profit (+47% YoY), GAAP profitability ($27M) and expanding clinical engagement (Clover Assistant reach and Clover Care enrollment up ~90%). Management acknowledged elevated outpatient utilization, Part D and prior-period reserve variability and one-time SG&A items, but described concrete actions (AI/data, dental cost controls, targeted remediation) and emphasized disciplined monitoring. Given the magnitude and breadth of the favorable metrics and the balance of challenges being described as manageable or being actively addressed, the overall tone is optimistic and confidence-driven while cautious on cohort maturation risks.Positive Updates
Strong Membership Growth
Medicare Advantage membership grew ~51% year-over-year to approximately 156,000 members (an increase of over 52,000 lives), driven by a strong AEP and best-in-class retention.
Negative Updates
Elevated Outpatient Utilization and Cost
Outpatient utilization and costs remain elevated and accelerated beginning in the back half of 2025 into early 2026; management is actively addressing this via data and AI but it represents a near-term expense pressure.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Membership Growth
Medicare Advantage membership grew ~51% year-over-year to approximately 156,000 members (an increase of over 52,000 lives), driven by a strong AEP and best-in-class retention.
Read all positive updates
Company Guidance
Clover reiterated it expects to meet or exceed its full‑year 2026 outlook across all metrics (and to deliver full‑year GAAP net income profitability), but will revisit guidance after Q2; Q1 results underpinning that view included ~156,000 MA members (over +52k YoY / ~51% growth), $749M revenue (+62% YoY), $160M consolidated gross profit (+47% YoY), insurance BER of 86.5%, GAAP net income of $27M (up $29M YoY), adjusted EBITDA of $40M (+56% YoY), adjusted SG&A of $119M (16% of revenue, ~200 bps YoY improvement versus a 100–150 bps target), $418M cash and investments with no debt, $108M operating cash flow, >1/3 of members receiving Clover Assistant care, Clover Care enrollment +~90% YoY, and noted inpatient utilization drove ~25–30 bps of margin favorability while they continue to monitor outpatient and Part D trends.Clover Health Investments Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
74
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.21B | 1.92B | 1.37B | 1.26B | 1.10B | 1.47B |
| Gross Profit | 406.55M | 355.88M | 364.80M | 255.95M | 103.48M | -79.18M |
| EBITDA | -55.21M | -83.86M | -44.94M | -207.63M | -252.03M | -569.60M |
| Net Income | -56.94M | -85.55M | -43.01M | -213.36M | -339.57M | -587.76M |
Balance Sheet | ||||||
| Total Assets | 697.73M | 541.01M | 580.74M | 570.67M | 808.62M | 950.80M |
| Cash, Cash Equivalents and Short-Term Investments | 177.56M | 95.35M | 221.54M | 242.69M | 334.76M | 615.25M |
| Total Debt | 0.00 | 0.00 | 0.00 | 4.66M | 5.86M | 27.83M |
| Total Liabilities | 358.30M | 232.31M | 239.60M | 284.28M | 451.73M | 411.49M |
| Stockholders Equity | 339.43M | 308.70M | 341.14M | 286.39M | 356.89M | 535.41M |
Cash Flow | ||||||
| Free Cash Flow | 54.54M | -68.98M | 33.29M | -116.45M | -208.39M | -283.05M |
| Operating Cash Flow | 57.25M | -66.93M | 34.84M | -115.87M | -203.93M | -282.33M |
| Investing Cash Flow | -9.92M | 4.08M | 565.00K | 140.01M | 95.13M | -435.45M |
| Financing Cash Flow | -29.51M | -53.38M | -17.36M | -33.86M | -4.96M | 925.39M |
Clover Health Investments Technical Analysis
Positive
2.19
Price Trends
3.86
Positive
2.92
Positive
2.81
Positive
Market Momentum
0.44
Positive
67.15
Neutral
61.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLOV, the sentiment is Positive. The current price of 2.19 is below the 20-day moving average (MA) of 4.87, below the 50-day MA of 3.86, and below the 200-day MA of 2.81, indicating a bullish trend. The MACD of 0.44 indicates Positive momentum. The RSI at 67.15 is Neutral, neither overbought nor oversold. The STOCH value of 61.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLOV.
Clover Health Investments Risk Analysis
Clover Health Investments disclosed 66 risk factors in its most recent earnings report. Clover Health Investments reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clover Health Investments Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $9.70B | -84.68 | -3.27% | ― | 31.95% | -180.28% | |
69 Neutral | $2.77B | -47.26 | -17.08% | ― | 48.75% | -118.24% | |
63 Neutral | $43.30B | 38.41 | 6.19% | 1.38% | 14.08% | -33.82% | |
62 Neutral | $4.92B | 241.62 | 11.50% | ― | 41.81% | ― | |
57 Neutral | $33.51B | -5.17 | -28.72% | ― | 17.02% | -294.77% | |
57 Neutral | $11.98B | 67.81 | 4.44% | ― | 7.72% | -83.64% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CLOV
Clover Health Investments
5.26
2.70
105.47%
CNC
Centene
67.86
34.55
103.72%
HUM
Humana
396.75
160.48
67.92%
MOH
Molina Healthcare
229.87
-9.71
-4.05%
OSCR
Oscar Health
32.18
15.71
95.39%
ALHC
Alignment Healthcare
23.80
10.23
75.39%
Clover Health Investments Corporate Events
Business Operations and StrategyFinancial Disclosures
Clover Health’s CMS Star Rating Upgrades Boost 2027 Outlook
Positive
Jun 18, 2026
On June 9, 2026, Clover Health Investments was informed by the Centers for Medicare Medicaid Services that, following a court judgment, the 2026 Star Rating for its PPO Medicare Advantage contract H5141 was recalculated from 3.5 Stars to 4.5 Star...
Business Operations and StrategyExecutive/Board Changes
Clover Health Restructures Leadership After Home-Care CEO Exit
Neutral
Jun 16, 2026
On June 15, 2026, Clover Health Investments said Brady Priest had notified the company of his decision to step down as chief executive of its home-care unit, Clover Care Services, effective July 3, 2026. The insurer will not name a successor and w...
Executive/Board ChangesShareholder Meetings
Clover Health Stockholders Approve Directors and Executive Pay
Positive
Jun 12, 2026
On June 10, 2026, Clover Health Investments held its 2026 Annual Meeting of Stockholders via live webcast, where shareholders with Class A and Class B shares voted together on key governance matters. Stockholders elected Demetrios L. Kouzoukas, An...
Business Operations and StrategyLegal Proceedings
Clover Health Gains Higher 4.5-Star Medicare PPO Rating
Positive
Jun 10, 2026
On May 29, 2026, a federal court in the Southern District of Georgia partially granted summary judgment to Clover Insurance Company in its challenge to the Centers for Medicare Medicaid Services over its 2026 Star Rating for Contract H5141, setti...
Business Operations and StrategyFinancial Disclosures
Clover Health Highlights Q1 Outlook and Profitability Path
Positive
May 18, 2026
On May 18, 2026, Clover Health published a supplemental QA to address shareholder questions around its first-quarter 2026 performance, business outlook, and operating model. Management highlighted how its Clover Assistant platform is improving med...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Clover Health Announces CFO Transition and Reaffirms 2026 Outlook
Positive
Apr 1, 2026
On March 30, 2026, Clover Health’s board approved a planned transition in its finance leadership, with Chief Financial Officer Peter Kuipers stepping down from his roles as CFO, principal financial officer and principal accounting officer, w...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.