Oscar Health, Inc. (OSCR) shares plummeted by 5.08% on Thursday morning during the trading session, underperforming the broader market.
Bank of America Securities analyst Adam Ron reiterated a "Sell" rating on Oscar Health and set a relatively low price target, reflecting concerns over the company's recent performance and outlook.
The analyst's downgrade was driven by Oscar Health's revenue miss and potential risks surrounding its enrollment numbers. The company's ability to attract and retain customers is crucial for its growth and profitability, and any challenges in this area could weigh heavily on its stock.
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