Piper Jaffray Reiterates a 'Buy' on athenahealth (ATHN), Adds Stock to Alpha List
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Piper Jaffray reiterates a 'Buy' on athenahealth (Nasdaq: ATHN), adds stock to Alpha List. Price target $37.
Piper analyst says, "ATHN subscription model more attractive in an uncertain economy. We believe upside to estimates could be driven by accelerated physician adoption. Physicians faced with a practice management upgrade this year will likely prefer the "no money down" option provided by ATHN than the typical $100k upfront licensing fee offered by the competition. Our current estimates are conservative and do not bake in any acceleration in physician adoption. If this acceleration occurs, we would see upside to our "MD-Live" metric as well as revenue and EPS."
Athenahealth, Inc. is a provider of Internet-based business services for physician practices.
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