A Bullish 2022 Outlook For agilon health inc. (NYSE: AGL) Shares

agilon health inc. (NYSE:AGL) shares, rose in value on Wednesday, 08/24/22, with the stock price up by 2.99% to the previous day’s close as strong demand from buyers drove the stock to $22.05.

Actively observing the price movement in the last trading, the stock closed the session at $21.41, falling within a range of $20.18 and $22.405. Referring to stock’s 52-week performance, its high was $38.47, and the low was $14.36. On the whole, AGL has fluctuated by -15.03% over the past month.

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With the market capitalization of agilon health inc. currently standing at about $9.23 billion, investors are eagerly awaiting this quarter’s results, scheduled for Oct 28, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.02, which is expected to increase to -$0.01 for fiscal year -$0.13 and then to about $0.08 by fiscal year 2023. Data indicates that the EPS growth is expected to be 88.10% in 2023, while the next year’s EPS growth is forecast to be 161.50%.

Analysts have estimated the company’s revenue for the quarter at $647.98 million, with a low estimate of $645 million and a high estimate of $652.2 million. According to the average forecast, sales growth in current quarter could jump up 29.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $2.58 billion, representing an increase of 40.70% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AGL’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 75% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AGL currently trading nearly -8.85% and -6.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.21, while the 7-day volatility ratio is showing 5.84% which for the 30-day chart, stands at 5.28%. Furthermore, agilon health inc. (AGL)’s average true range (ATR) is 1.39. The company’s stock has been forecasted to trade at an average price of $32.50 over the course of the next 52 weeks, with a low of $26.00 and a high of $41.00. Based on these price targets, the low is -17.91% off current price, whereas the price has to move -85.94% to reach the yearly target high. Additionally, analysts’ median price of $32.50 is likely to be welcomed by investors because it represents a decrease of -47.39% from the current levels.

Data on historical trading for agilon health inc. (NYSE:AGL) indicates that the trading volumes over the past 10 days have averaged 3.14 million and over the past 3 months, they’ve averaged 2.42 million. According to company’s latest data on outstanding shares, there are 407.34 million shares outstanding.

Nearly 1.10% of agilon health inc.’s shares belong to company insiders and institutional investors own 98.76% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 19.16 million shares as on Jul 14, 2022, resulting in a short ratio of 9.85. According to the data, the short interest in agilon health inc. (AGL) stood at 4.71% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 20.03 million. The stock has fallen by -18.33% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AGL stock heading into the next quarter.

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