Ontrak, Inc. to Post FY2021 Earnings of ($0.14) Per Share, Colliers Secur. Forecasts (NASDAQ:OTRK)

Ontrak, Inc. (NASDAQ:OTRK) – Colliers Secur. boosted their FY2021 earnings per share estimates for shares of Ontrak in a report released on Monday, September 14th. Colliers Secur. analyst G. Mannheimer now anticipates that the company will earn ($0.14) per share for the year, up from their previous estimate of ($0.18).

Ontrak (NASDAQ:OTRK) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The business had revenue of $17.23 million for the quarter.

A number of other research firms have also recently weighed in on OTRK. Royal Bank of Canada raised their price objective on shares of Ontrak from $50.00 to $82.00 in a report on Tuesday, September 8th. Cowen began coverage on shares of Ontrak in a report on Thursday, July 16th. They issued an “outperform” rating and a $36.00 target price on the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Ontrak in a report on Thursday, September 10th. ValuEngine raised shares of Ontrak from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Finally, BidaskClub raised shares of Ontrak from a “hold” rating to a “buy” rating in a report on Friday, June 19th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Ontrak presently has a consensus rating of “Buy” and a consensus target price of $56.00.

OTRK stock opened at $61.80 on Wednesday. Ontrak has a twelve month low of $8.55 and a twelve month high of $83.34. The company’s 50 day moving average is $56.02 and its two-hundred day moving average is $32.79. The stock has a market cap of $1.07 billion, a P/E ratio of -33.23 and a beta of 2.59.

Several hedge funds have recently modified their holdings of OTRK. Bessemer Group Inc. acquired a new stake in Ontrak in the 2nd quarter valued at $59,000. BlackRock Inc. increased its holdings in Ontrak by 1.3% in the first quarter. BlackRock Inc. now owns 491,011 shares of the company’s stock valued at $7,478,000 after purchasing an additional 6,278 shares during the last quarter. Morgan Stanley increased its holdings in Ontrak by 63.3% in the first quarter. Morgan Stanley now owns 31,537 shares of the company’s stock valued at $480,000 after purchasing an additional 12,226 shares during the last quarter. Citigroup Inc. increased its holdings in Ontrak by 5.4% in the first quarter. Citigroup Inc. now owns 9,858 shares of the company’s stock valued at $150,000 after purchasing an additional 507 shares during the last quarter. Finally, State Street Corp increased its holdings in Ontrak by 2.2% in the first quarter. State Street Corp now owns 124,292 shares of the company’s stock valued at $1,893,000 after purchasing an additional 2,705 shares during the last quarter. 24.65% of the stock is currently owned by institutional investors and hedge funds.

Ontrak Company Profile

Ontrak, Inc operates as an artificial intelligence powered, virtualized outpatient healthcare treatment company that provides in-person or telehealth intervention services to health plans and other third-party payors. Its Ontrak PRE (Predict-Recommend-Engage) platform predicts people whose chronic disease will improve with behavior change, recommends care pathways that people are willing to follow, and engages people who aren't getting the care they need.

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