Clover Health Investments (CLOV)
NASDAQ:CLOV
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Clover Health Investments
(NASDAQ:CLOV)
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Rating:56Neutral
Price Target:
$2.50
▲(14.16% Upside)
Action:ReiteratedDate:04/22/26
CLOV scores mid-range primarily due to uneven financial performance (ongoing losses and a 2025 reversal to negative operating/free cash flow) despite a strong, low-debt balance sheet. Offsetting this, the latest earnings call guidance points to meaningful profitability improvement in 2026, while technicals show an uptrend but with overbought momentum. Valuation support is limited due to negative earnings and no dividend.
Positive Factors
Robust membership and revenue growth
Rapid, guided membership expansion materially increases recurring CMS capitation cashflows and scales premium base. A ~46% membership lift and ~49% revenue guidance support durable operating leverage, improved fixed-cost absorption and a clearer path to sustained profitability if cohort economics stabilize.
Negative Factors
Negative operating and free cash flow
A shift to negative operating and free cash flow increases funding risk as membership scales. Growth-driven working capital and initial cohort losses can consume cash; if cash generation does not reaccelerate, the company may need external financing or slower reinvestment, pressuring execution of profitability plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust membership and revenue growth
Rapid, guided membership expansion materially increases recurring CMS capitation cashflows and scales premium base. A ~46% membership lift and ~49% revenue guidance support durable operating leverage, improved fixed-cost absorption and a clearer path to sustained profitability if cohort economics stabilize.
Read all positive factors
Clover Health Investments (CLOV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.41B
Dividend YieldN/A
Average Volume (3M)5.26M
Price to Earnings (P/E)8.4
Beta (1Y)1.61
Revenue Growth40.40%
EPS Growth-89.29%
CountryUS
Employees570
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Plans
Share Statistics
EPS (TTM)-0.17
Shares Outstanding428,951,420
10 Day Avg. Volume5,129,077
30 Day Avg. Volume5,264,895
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 Cap0.85
Enterprise Value/Revenue0.62
Enterprise Value/Gross Profit3.37
Enterprise Value/Ebitda-14.30
Forecast
1Y Price Target
$2.98Price Target Upside35.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.04
Revenue Forecast (FY)$2.88B
Clover Health Investments Business Overview & Revenue Model
Company Description
Clover Health Investments, Corp. operates as a medicare advantage insurer in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health ...
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 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 Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call emphasized significant positive momentum: robust membership and revenue growth, adjusted EBITDA profitability in 2025, strong retention and technology adoption, and guidance targeting the company’s first full year of GAAP net income in 2026. Key risks highlighted include first-year new-member dilution (reflected in a higher BER and $145 PMPM new member contribution loss), outpatient and Part D cost pressures, abnormal dental/DME activity that required remediation, and near-term operating cash use. Management presented clear plans and structural drivers (cohort maturation, Clover/Counterpart Assistant expansion, 4-star payment tailwind, and SG&A leverage) to improve margins and convert growth into sustainable GAAP profitability.Positive Updates
Adjusted EBITDA Profitability in 2025
Delivered full year adjusted EBITDA profitability of $22 million and adjusted net income of $20 million for 2025, demonstrating profitability while scaling membership.
Negative Updates
Insurance Segment BER Deterioration
Insurance segment medical loss ratio (BER) was 90.9% for 2025, up 970 basis points year-over-year; after normalizing for prior period development, BER increased ~700 basis points YoY, primarily driven by new member dilution and incremental quality investments.
Read all updates
Q4-2025 Updates
Positive
Negative
Adjusted EBITDA Profitability in 2025
Delivered full year adjusted EBITDA profitability of $22 million and adjusted net income of $20 million for 2025, demonstrating profitability while scaling membership.
Read all positive updates
Company Guidance
Clover guided 2026 toward continued market-leading growth and profitability, forecasting average Medicare Advantage membership of 154,000–158,000 (≈46% YoY at the midpoint), total revenue of $2.81–$2.92B (≈49% YoY), and consolidated gross profit of $470M–$510M (vs. $356M in 2025); they expect adjusted EBITDA of $50M–$70M and their first full year of GAAP net income of breakeven to $20M, plan to reduce adjusted SG&A as a percentage of revenue by ~100–150 bps, and cite drivers including >95% AEP retention, a 4‑star payment year (≈97% in the wide‑network PPO), deeper Clover Assistant penetration (≈2/3 of members in 2025), Part D optimizations, and targeted remediation actions — building on 2025 metrics such as $1.9B insurance revenue, $22M adjusted EBITDA, $20M adjusted net income, BER 90.9%, and ~5% medical cost trend ex‑pharmacy.Clover Health Investments Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
40
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.92B | 1.37B | 1.26B | 1.10B | 1.47B |
| Gross Profit | 355.88M | 364.80M | 255.95M | 103.48M | -79.18M |
| EBITDA | -83.86M | -44.94M | -207.63M | -252.03M | -569.60M |
| Net Income | -85.55M | -43.01M | -213.36M | -339.57M | -587.76M |
Balance Sheet | |||||
| Total Assets | 541.01M | 580.74M | 570.67M | 808.62M | 950.80M |
| Cash, Cash Equivalents and Short-Term Investments | 95.35M | 221.54M | 242.69M | 334.76M | 615.25M |
| Total Debt | 0.00 | 0.00 | 4.66M | 5.86M | 27.83M |
| Total Liabilities | 232.31M | 239.60M | 284.28M | 451.73M | 411.49M |
| Stockholders Equity | 308.70M | 341.14M | 286.39M | 356.89M | 535.41M |
Cash Flow | |||||
| Free Cash Flow | -68.98M | 33.29M | -116.45M | -208.39M | -283.05M |
| Operating Cash Flow | -66.93M | 34.84M | -115.87M | -203.93M | -282.33M |
| Investing Cash Flow | 4.08M | 565.00K | 140.01M | 95.13M | -435.45M |
| Financing Cash Flow | -53.38M | -17.36M | -33.86M | -4.96M | 925.39M |
Clover Health Investments Technical Analysis
Neutral
2.19
Price Trends
1.98
Positive
2.24
Negative
2.55
Negative
Market Momentum
0.04
Negative
69.93
Neutral
90.75
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLOV, the sentiment is Neutral. The current price of 2.19 is above the 20-day moving average (MA) of 1.90, above the 50-day MA of 1.98, and below the 200-day MA of 2.55, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 69.93 is Neutral, neither overbought nor oversold. The STOCH value of 90.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $5.97B | 1.26 | -39.45% | ― | 27.50% | -1091.30% | |
66 Neutral | $3.75B | 79.24 | 11.50% | ― | 41.81% | ― | |
65 Neutral | $27.32B | 2.61 | -28.72% | ― | 17.02% | -294.77% | |
63 Neutral | $29.57B | 4.40 | 6.19% | 1.38% | 14.08% | -33.82% | |
56 Neutral | $1.41B | 8.41 | -25.73% | ― | 40.40% | -89.29% | |
54 Neutral | $10.29B | 121.40 | 4.44% | ― | 7.72% | -83.64% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CLOV
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Clover Health Investments Corporate Events
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...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Clover Health Highlights Transparency With Supplemental Earnings Q&A
Positive
Mar 6, 2026
On March 6, 2026, Clover Health Investments, Corp. published written responses to a selection of frequently asked supplemental questions tied to its fourth-quarter 2025 earnings announcement, aiming to deepen engagement with its shareholder base. ...
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.