Analyst Craig Hettenbach from Morgan Stanley maintained a Buy rating on Omada Health, Inc. and keeping the price target at $30.00.
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Craig Hettenbach has given his Buy rating due to a combination of factors that highlight Omada Health, Inc.’s strong growth potential and strategic positioning in the digital health market. The company has demonstrated significant client base expansion, with approximately 3,000 clients across 21 industries, representing around 18 million self-funded lives. This indicates a substantial market penetration of 19% and suggests ample room for further growth.
Furthermore, Omada Health is poised to capitalize on several growth levers, including its GLP-1 Care Track, which has doubled its membership over the past year, and its strategic partnership with CVS, providing access to over 100 million lives. The company’s investments in technology and AI have also led to a 24% year-over-year increase in total members per coach. Despite its recent stock outperformance, there remains an opportunity to close the valuation gap with its healthcare IT peers, making Omada Health an attractive investment ahead of its Q3 earnings report.
According to TipRanks, Hettenbach is a 4-star analyst with an average return of 4.1% and a 54.44% success rate.
In another report released on October 24, J.P. Morgan also maintained a Buy rating on the stock with a $31.00 price target.