Alignment Healthcare Q2 revenue jumps on membership growth

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue	Beat	$1.34 billion	$1.31 billion (11 analysts)
Q2 Net Income		$36.56 million
Q2 Adjusted EBITDA	Beat	$68.15 million	$57.68 million (13 analysts)
Q2 EBIT		$42.10 million

The current average analyst rating on the shares is buy, with 12 strong buy or buy ratings, two hold ratings and no sell or strong sell ratings.

The median 12-month price target is $25.00, about 36.7% above the stock's July 29 closing price of $18.29.

The stock recently traded at 57 times next 12-month earnings, versus a P/E of 93 three months ago.

Alignment Healthcare said its second-quarter revenue grew 31.6% year over year, beating analyst expectations, as membership growth continued to drive results.