.jpg "Allscripts (NASDAQ: MDRX)")
Maxim Group analyst Anthony Vendetti maintained a Buy rating on Allscripts (NASDAQ: MDRX) today and set a price target of $18. The company’s shares closed yesterday at $11.52, close to its 52-week low of $10.78.
Vendetti said:
“1Q18 bookings of $304M, up 6.3% y/y, was below our estimate of $315M, but relatively inline with consensus of $305M.”
According to TipRanks.com, Vendetti is ranked #451 out of 4773 analysts.
Currently, the analyst consensus on Allscripts is Moderate Buy and the average price target is $16.89, representing a 46.6% upside.
In a report issued on April 24, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $16 price target.
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Based on Allscripts’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $514 million and GAAP net loss of $39.8 million. In comparison, last year the company earned revenue of $413 million and had a GAAP net loss of $19.98 million.
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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.
