In a report released today, Mohan Naidu from Oppenheimer maintained a Hold rating on Allscripts (NASDAQ: MDRX). The company’s shares closed yesterday at $11.52, close to its 52-week low of $10.78.
Naidu observed:
“Allscripts reported bookings in line with expectations at $304M, up 6% y/y, but revenue came in slightly lower at $514M vs. consensus of $518M. Netsmart contributed $83M (up 11%) for the quarter while EIS contributed $91M. The company announced the acquisition of HealthGrid to enhance the FollowMyHealth solution and drive new patient engagement offerings for customers. While bookings were in-line, the slightly lower Q1 numbers and overall market sluggishness decreases our confidence in guidance. MDRX should benefit from the breadth of solutions and as the EIS integration efforts continue, we expect to see margins and earnings lift through the year.”
According to TipRanks.com, Naidu is a 4-star analyst with an average return of 7.2% and a 51.2% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
Allscripts has an analyst consensus of Moderate Buy, with a price target consensus of $17.25.
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The company has a one-year high of $16.13 and a one-year low of $10.78. Currently, Allscripts has an average volume of 2.11M.
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Allscripts Healthcare Solutions, Inc. engages in the provision of clinical, financial, connectivity, information solutions, and related professional services. It operates through the following segments: Clinical and Financial Solutions; Population Health; and Netsmart.
