NextGen Healthcare Inc (NXGN) Receives a Rating Update from a Top Analyst

Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on NextGen Healthcare Inc (NXGN) today and set a price target of $23. The company’s shares opened today at $17.65.

Halper observed:

“. We reiterate our Overweight rating on NXGN shares and maintain our price target of $23. We recently met with NXGN management team. We remain confident that some of the issues that came up with its F2Q19 results (reported in late October) were temporary in nature. As a reminder, F2Q19 bookings were about $36 million, representing growth of 39% y/y, which is impressive. However, as deal size increases, implementation timelines expand and short-term revenue is not hitting expectations. The company also experienced higher-than-expected customer attrition. After considering the elevated attrition during the quarter and the company’s expectation that it will remain elevated for some time, we reduced our F20 revenue growth assumption to 5.7% from 7.0%.”

According to, Halper is a top 25 analyst with an average return of 20.9% and a 69.7% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.

NextGen Healthcare Inc has an analyst consensus of Hold, with a price target consensus of $18.31.

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NextGen Healthcare Inc’s market cap is currently $1.14B and has a P/E ratio of 193.36. The company has a Price to Book ratio of 3.22.

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NextGen Healthcare, Inc. engages in the development and marketing of electronic health records, practice management, revenue cycle management, and interoperability solutions. It offers the core; automation and workflow; analytics, population health, and patient engagement, interoperability; managed services; professional services; and client service and support. The company was founded by Sheldon Razin in 1974 and is headquartered in Irvine, CA.

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