Piper Sandler Confident in Oscar Health’s (OSCR) Market Share and Profitability Growth, Sets $404M Minimum 2027 Adjusted EBITDA Expectation

Core Insights - Oscar Health Inc. has been upgraded to Overweight by Piper Sandler with a price target increase from $13 to $25, indicating confidence in the company's ability to grow market share and profitability despite potential challenges from the expiration of Enhanced Advance Premium Tax Credits in 2025 [1] - The company reported a 23% year-over-year increase in total revenue for Q3 2025, reaching approximately $3 billion, and a 28% increase in membership, surpassing 2 million members [2] - Oscar Health is expanding its market presence with the Oscar Experience now available in 20 states, including new entries into Alabama and Mississippi [2] - The company is introducing innovative health products and utilizing AI technology to enhance member health management [3] - A contraction in the overall market is anticipated due to the expiration of premium tax credits and historical churn patterns, leading to expected membership decline in Q4 [3] Company Overview - Oscar Health operates as a healthcare technology company in the US, providing health plans to individuals, families, employees, and small group markets [4]