Sharecare Inc (SHCR) has released its quarterly financial results, reporting an adjusted loss of 10 cents per share for the quarter ending in December. While this figure represents an improvement compared to the same quarter last year, the company’s revenue experienced a decline, falling short of analyst expectations.
Sharecare Inc’s quarterly adjusted loss of 10 cents per share is an improvement from the previous year’s EPS of -7 cents. Despite this progress, the company fell short of analyst expectations, with the mean forecast anticipating a loss of 6 cents per share. Revenue for the quarter fell by 14.6% year-over-year, totaling $105.28 million, missing analysts’ estimates of $115.00 million.
Sharecare reported a quarterly loss of $34.25 million, reflecting the challenges faced in revenue generation and cost management. Sharecare Inc shares witnessed a decline of 22.3% during the quarter, indicating market sentiment towards the company’s performance and outlook.
Analysts’ mean earnings estimate remained unchanged over the past three months, reflecting stability in market expectations. Additionally, there have been no earnings estimate revisions by analysts covering the company in the last 30 days, suggesting a consistent outlook among market analysts.
Despite the financial challenges, Sharecare Inc continues to receive positive analyst ratings, with the current average rating on the shares being “buy.” The breakdown of recommendations includes 3 “strong buy” or “buy,” 1 “hold,” and no “sell” or “strong sell” ratings. Furthermore, the average consensus recommendation for the software peer group, to which Sharecare Inc belongs, is also “buy.”
Wall Street’s median 12-month price target for Sharecare Inc stands at $2.38, indicating the analysts’ assessment of the company’s potential growth and value over the coming year.
At the time of this reporting, Sharecare Inc’s stock is trading at $0.5945, reflecting a slight increase of 0.044099987. Despite the challenges highlighted in the financial results, the average analyst rating remains positive, with a current rating of 2.5, categorized as “buy.” Sharecare Inc continues to demonstrate resilience amidst market fluctuations, with investors closely monitoring its performance in the evolving landscape of the healthcare technology sector.
