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However, according to World Population Prospects 2020, the global population aged 65 years and above was 703 million in 2020. In addition, the number of older people, who are CANO’s target market, is projected to double by 2050 to 1.5 billion.
CANO has increased its full-year 2021 and 2022 guidance. The company expects its membership to be roughly 215,000 this year and in the range of 275,000 – 280,000 next year. Also, its revenue is expected to be approximately $1.60 billion in its fiscal year 2021 and in the range of $2.50 – $2.60 billion in fiscal 2022. In addition, Credit Suisse (SIX:CSGN) Group AG (CS) recently initiated coverage on CANO with an outperform rating. So, the stock’s near-term prospects look promising.
