Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Athenahealth (NASDAQ: ATHN) today and set a price target of $140. The company’s shares opened today at $153.76, close to its 52-week high of $158.66.
Halper observed:
“Growth at ATHN appears to be slowing. athena’s top-line growth has certainly decelerated, as evidenced by the decline in bookings for 1Q18. ATHN’s KLAS Research scores for Collector and Clinicals have held up well. It remains to be seen if the company’s effort to expand into the hospital market and population health will pay dividends. Nonetheless, the magnitude of the margin expansion in 1Q18 demonstrates the inherent leverage in the recurring revenue model, in our view. We reiterate our Neutral rating on the shares.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 18.4% and a 70.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Currently, the analyst consensus on Athenahealth is Moderate Buy and the average price target is $154.18, representing a 0.3% upside.
In a report issued on May 9, Deutsche Bank also maintained a Hold rating on the stock with a $160 price target.
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The company has a one-year high of $158.66 and a one-year low of $111.61. Currently, Athenahealth has an average volume of 508.8K.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock.
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athenahealth, Inc. engages in the provision of cloud-based business services and mobile applications for medical groups and health systems. It offers network-based medical record, revenue cycle, patient engagement, care coordination, population health services, and other point-of-care mobile applications.
