Dougherty & Co Sees Attractive Entry Point in athenahealth (ATHN) Following Sell-Off

Dougherty & Co analyst Gene Mannheimer sees an attractive entry point in athenahealth (NASDAQ: ATHN) following the recent sell-off and reiterated a Buy rating and price target of $150.

Mannheimer commented, "We call out what we view as a good entry point in ATHN stock following a 10% move down since the furor at December 15th investor summit that propelled the stock up 20%. Our bookings analysis points to solid 20% year-over-year growth and is supportive of the Company’s revenue and earnings outlook. As one example, we have learned of a situation in the Southeast in which ATHN is close to being selected as vendor of choice at a 90-doctor multispecialty practice, replacing Greenway, an illustration that the replacement market remains active. We continue to find ATHN’s valuation and disruptive approach to the healthcare IT (HCIT) market appealing and reiterate our Buy rating."

For an analyst ratings summary and ratings history on athenahealth click here. For more ratings news on athenahealth click here.

Shares of athenahealth closed at $106.44 yesterday.

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