Raymond James Upgrade Boosts Oscar Health Stock After Q4 Earnings

Oscar Health Inc (NYSE:OSCR) shares are climbing on Thursday. The company posted fourth‑quarter results that missed expectations on both revenue and earnings, but had a stronger‑than‑expected 2026 outlook.

• Oscar Health stock is gaining positive traction. Why are OSCR shares climbing?

What The Numbers Showed

Oscar reported a quarterly loss of $1.24 per share, wider than the 89 cent loss analysts were expecting and a notable step back from the 62 cent loss a year ago. Revenue also came in light at $2.81 billion, below the $3.12 billion consensus, though it still marked 17% year‑over‑year growth.

Guidance May Be Helping The Stock

The company issued 2026 revenue guidance of $18.7 billion to $19.0 billion, dramatically above the Street's $12.565 billion estimate. Oscar also expects a medical loss ratio of 82.4% to 83.4% and operating earnings between $250 million and $450 million for the year.

Raymond James Upgrade Adds Momentum

Helping fuel the rally, Raymond James upgraded Oscar Health shares from Market Perform to Outperform, setting an $18 price target versus the stock's current level around $13.60. The firm called Oscar "the best house in a tough neighborhood," pointing to an attractive valuation as ACA exchange margins begin to recover.

Raymond James expects Oscar to generate roughly 2% EBIT margin in 2026, expanding to around 4% in 2027 as the medical loss ratio improves through repricing and G&A efficiencies. The firm added that much of the uncertainty around ACA subsidies and integrity rules is already reflected in the stock, creating a steadier backdrop for modest margin improvement. Oscar's long‑term EPS target remains $2.25.

OSCR Price Action: Oscar Health shares were up 0.96% at $13.73 at the time of publication on Thursday, according to Benzinga Pro.

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