Jefferies Raises Price Target on Athenahealth (ATHN) to $110
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Jefferies reiterated an Underperform rating on Athenahealth (NASDAQ: ATHN), and raised the price target to $110.00 (from $105.00), ahead of the company's 3Q earnings report.
Analyst Sean Dodge commented, "Bookings performance YTD has been tepid, making 3Q an important indicator of the '17 targets ATHN will set at its 12/15 I-day. Upside to 3Q 'doc adds' is likely, but absent another large Enterprise deal (or strong Small/Group bookings), we see topline growth decelerating further in 2017. Slowing revenue growth is likely accompanied by further multiple compression."
Shares of athenahealth closed at $126.34 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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