Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Athenahealth (NASDAQ: ATHN) today and set a price target of $145. The company’s shares closed yesterday at $143.09.
Halper wrote:
“Growth at ATHN appears to be slowing. athena’s top-line growth has certainly decelerated, as evidenced by the decline in bookings for 1Q18. Bookings picked up in 2Q18 but it remains to be seen if that is sustainable. ATHN’s KLAS Research scores for Collector and Clinicals have held up well. It remains to be seen if the company’s efforts to expand into the hospital market and population health will pay dividends. Nonetheless, the magnitude of the margin expansion in 1H18 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 25 analyst with an average return of 24.9% and a 75.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Athenahealth with a $159 average price target, representing an 11.1% upside. In a report issued on September 6, RBC Capital also reiterated a Hold rating on the stock with a $160 price target.
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Athenahealth’s market cap is currently $5.8B and has a P/E ratio of 52.03. The company has a Price to Book ratio of 5.66.
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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.
