Covista Inc. (CVSA) Stock Price & How to Invest

Covista Inc. is the largest healthcare educator in the United States by enrollment, running five accredited institutions across three reporting segments. Chamberlain University is the nursing school and the biggest single revenue line. Walden University is the online graduate institution, weighted toward master's and doctoral programs in nursing, health, education and social work. The Medical and Veterinary segment holds American University of the Caribbean School of Medicine, Ross University School of Medicine and Ross University School of Veterinary Medicine, with campuses in Barbados, St. Kitts and St. Maarten. Revenue is tuition, and a large share of that tuition is funded by federal Title IV student aid. The company is the former DeVry Education Group, which took the Adtalem name in 2017, sold DeVry University in 2018, and spent the four years after that reshaping around healthcare. It announced the Covista name on 5 February 2026 and the ticker moved from ATGE to CVSA on the NYSE on 24 February 2026.

The investment picture is a steady, high-margin operator whose growth is being tested by a change in student lending rules rather than by demand. Fiscal 2025 (ended 30 June 2025) revenue was ~$1,788 million, up ~12.9%, with adjusted EPS of ~$6.67. In fiscal Q3 2026 (quarter ended 31 March 2026) revenue was ~$487 million, up ~4.5%, adjusted EPS was ~$1.98, adjusted operating margin was ~21.0% and total enrollment passed 100,000 students, up ~6.8%. Management raised full-year fiscal 2026 guidance to ~$1,930 million to ~$1,945 million of revenue and ~$7.95 to ~$8.15 of adjusted EPS. The balance sheet carries ~$496 million of long-term debt against ~$147 million of cash for net leverage of ~0.7x, nine-month free cash flow was ~$336 million, and ~$240 million went to buybacks over those nine months against a ~$4.4 billion market value. There is no dividend. Against that, GAAP net income in the quarter fell to ~$41.6 million from ~$60.8 million a year earlier, Chamberlain enrollment growth slowed to ~0.5%, and the elimination of Grad PLUS loans on 1 July 2026 caps most graduate borrowing at ~$20,500 a year and ~$100,000 lifetime, which lands squarely on Walden's core programs.

The dominant risk is federal policy rather than competition. Grad PLUS loans ended for new borrowers on 1 July 2026 and most graduate students are now capped at ~$20,500 a year and ~$100,000 lifetime, which is below the full cost of several Walden doctoral pathways and could slow the segment that has been driving enrollment growth. The wider Title IV rules matter too: the 90/10 revenue test, gainful employment metrics and accreditation reviews all apply, and a change to any of them affects the whole revenue base. The company also carries a reputational and litigation history, including a ~$28.5 million class action settlement over Walden's DBA program that received final court approval in October 2024, and consumer advocacy groups have continued to criticize the institutions after the rebrand. Operationally, Chamberlain enrollment growth decelerated to ~0.5% in fiscal Q3 2026 and GAAP net income fell year over year on refinancing and other costs, so the headline adjusted numbers and the reported ones have been moving in different directions. Fiscal Q4 and full-year results are due on 6 August 2026, and the first fiscal 2027 guidance is the first time management has to quantify the loan-cap effect.

4 analysts publish price targets on CVSA, averaging $156.25 against a $129.89 price as of August 2026, or +20.3%. The published targets run from $140.00 to $175.00, a narrow spread, and the ratings split 4 buy, 0 hold, 0 sell. Over the last six months there has been 1 raise and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full CVSA forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Covista Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Nursing demand and the Chamberlain pipeline. Chamberlain is the nursing school and produced ~$197 million of revenue in fiscal Q3 2026, the largest segment. The most optimistic published target, $175.00, assumes this works close to its best case.

The case against. The dominant risk is federal policy rather than competition. The most pessimistic target, $140.00, is roughly what CVSA is worth if this bites instead.

Read the full bull and bear case on CVSA, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Covista Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$1.91 billion
• Adjusted EPS (FY2026 guidance): ~$7.95 to ~$8.15
• Adjusted operating margin (Q3 FY2026): ~21.0%
• Market cap: ~$4.4 billion
• Trailing / forward P/E: ~20x / ~15x
• Net leverage: ~0.7x

Shares trade near ~$130, up roughly ~13% over the past 52 weeks, for an enterprise value of ~$5.0 billion and an EV/EBITDA multiple around ~9x on a ~26% adjusted EBITDA margin. That is a discount to the ~20x trailing P/E implied by GAAP earnings because adjusted profit runs well ahead of reported profit, a gap worth checking in the filings. Fiscal Q4 and full-year 2026 results land on 6 August 2026, and the published average analyst price target sits near ~$156.

Other names that sit close to CVSA: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get CVSA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so CVSA sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where CVSA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Covista is a profitable, cash-generative healthcare education operator on a middling multiple, and the case turns on whether Walden's graduate enrollment holds up under the new federal borrowing limits.

Whether CVSA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CVSA a buy or a sell?, and where the stock could go from here in the CVSA stock forecast.

For income investors, whether CVSA pays a dividend and how the payout looks is covered in does CVSA pay a dividend? And to weigh CVSA against a peer, read the full side-by-side comparisons: CVSA vs LOPE and CVSA vs LAUR.