Analyst Cuts Price Target For Quality Systems, Inc. (QSII)
Analyst Sean Dodge of Jefferies maintained a Hold rating on Quality Systems, Inc. (NASDAQ:QSII) with a cut price target of $13, marking a 6.5% increase from current levels. This report came after the company’s weak earnings report and a lower FY17 guidance. Guidance is now revenues of $494-510 million and EPS of $0.75-0.81. These declines are credited to QSII’s turnaround plan having more operational disruption than expected. The company still believes, despite weak earnings, that progress is being made and a “reorganized sales force and improving client satisfaction scores are expected to carry the ball until the growth/development initiatives begin to take hold, likely in FY18.”
According to TipRanks, Dodge has a success rate of 54% with an average return of 1.1% per recommendation.