Clover Health Investments (CLOV)
NASDAQ:CLOV
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Clover Health Investments
(NASDAQ:CLOV)
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Rating:50Neutral
Price Target:
$2.00
▲(8.11% Upside)
Action:ReiteratedDate:03/06/26
The score is held back primarily by mixed financial quality (still unprofitable with 2025 cash flow deterioration despite a strong debt-free balance sheet) and weak technicals (below key moving averages with negative MACD). A more constructive earnings narrative—growth, retention, and potential 2026 GAAP profitability—provides some support, but valuation remains constrained by ongoing losses and no dividend.
Positive Factors
Debt-free balance sheet
Zero reported debt provides durable financial flexibility for a Medicare Advantage operator. It supports investment in network, technology, and growth without interest burdens, and creates a buffer against medical cost volatility; however sustained losses could still erode equity over time.
Negative Factors
Persistent unprofitability and margin volatility
Despite improving revenue, the company remains unprofitable and shows erratic margin metrics (including a >100% gross margin anomaly), which undermines confidence in sustainable underwriting and cost control. MA operators need steady margins to convert scale into durable profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero reported debt provides durable financial flexibility for a Medicare Advantage operator. It supports investment in network, technology, and growth without interest burdens, and creates a buffer against medical cost volatility; however sustained losses could still erode equity over time.
Read all positive factors
Clover Health Investments (CLOV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$954.89M
Dividend YieldN/A
Average Volume (3M)5.48M
Price to Earnings (P/E)―
Beta (1Y)1.60
Revenue Growth15.23%
EPS Growth38.79%
CountryUS
Employees570
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Plans
Share Statistics
EPS (TTM)-0.05
Shares Outstanding428,951,420
10 Day Avg. Volume6,010,008
30 Day Avg. Volume5,479,872
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 Cap0.89
Enterprise Value/Revenue0.44
Enterprise Value/Gross Profit2.40
Enterprise Value/Ebitda-10.18
Forecast
1Y Price Target
$2.98Price Target Upside61.08% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.02
Revenue Forecast (FY)$2.87B
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 makes money primarily through its Medicare Advantage plans, where it receives a fixed monthly payment from the Centers for Medicare & Medicaid Services (CMS) for each enrolled member. This payment is used to cover healthcare costs fo...
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:Nov 04, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Neutral
While Clover Health reported significant membership and revenue growth, positive EBITDA, and strong retention rates, the call highlighted challenges with new member profitability, lowered financial guidance, and increased medical costs, leading to a balanced outlook.Positive Updates
Membership and Revenue Growth
Clover Health saw a 35% increase in membership and nearly 50% growth in revenue year-over-year for the third quarter.
Negative Updates
Lowered Guidance for 2025 Adjusted EBITDA
Clover Health lowered its guidance for 2025 adjusted EBITDA profitability due to higher-than-expected new member growth and increased utilization.
Read all updates
Q3-2025 Updates
Positive
Negative
Membership and Revenue Growth
Clover Health saw a 35% increase in membership and nearly 50% growth in revenue year-over-year for the third quarter.
Read all positive updates
Company Guidance
During Clover Health's third quarter 2025 earnings call, the company revised its guidance for the full year 2025, highlighting a number of key metrics. The company expects to add approximately 44,000 gross new members, reaching an estimated year-end total of around 113,000 net members. This growth has impacted their adjusted EBITDA profitability for 2025, which is now projected to be between $15 million and $30 million, a reduction from previous expectations. Insurance revenue is anticipated to be between $1.850 billion and $1.880 billion, reflecting a 39% year-over-year growth at the midpoint. The adjusted SG&A is expected to improve, ranging from $325 million to $335 million, marking a 400 basis point improvement year-over-year. However, insurance benefit ratios (BER) are forecasted between 90% and 91% due to elevated utilization trends and strong new membership growth. Looking ahead, Clover Health remains optimistic about 2026, anticipating positive GAAP net income driven by various factors, including strong member retention, a larger profitable returning member cohort, a 4-star payment year for PPO plans, and continued SG&A leverage.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
Negative
1.85
Price Trends
2.16
Negative
2.40
Negative
2.64
Negative
Market Momentum
-0.08
Positive
32.01
Neutral
12.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLOV, the sentiment is Negative. The current price of 1.85 is below the 20-day moving average (MA) of 1.99, below the 50-day MA of 2.16, and below the 200-day MA of 2.64, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 32.01 is Neutral, neither overbought nor oversold. The STOCH value of 12.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $3.64B | -8.51 | -39.45% | ― | 37.38% | -912.18% | |
60 Neutral | $3.56B | -88.83 | -0.49% | ― | 47.39% | 85.35% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $954.89M | -14.21 | -25.73% | ― | 15.23% | 38.79% | |
50 Neutral | $16.22B | -3.03 | -27.74% | ― | 14.92% | -286.72% | |
49 Neutral | $7.30B | 18.68 | 10.99% | ― | 13.71% | -18.02% | |
47 Neutral | $20.43B | 25.97 | 6.59% | 1.38% | 9.87% | -5.58% |
* Healthcare Sector Average
CLOV
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Clover Health Investments Corporate Events
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. ...
Business Operations and StrategyFinancial Disclosures
Clover Health Projects 2026 Profitability as Membership Surges
Positive
Jan 14, 2026
On December 16, 2025, Clover Health Investments announced that CEO Andrew Toy would present at the 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2026, with the presentation webcast available via the company’s website, undersco...
Business Operations and StrategyProduct-Related Announcements
Clover Health Unveils Counterpart Assistant Adoption
Positive
Dec 10, 2025
On December 10, 2025, Clover Health Investments announced the performance outcomes of its subsidiary, Counterpart Health, Inc., and the adoption of its Counterpart Assistant technology by third-party customer clinicians. This development highlight...
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.