Health Catalyst Inc. (HCAT) First Public Report Should Be Strong Enough To Support Multiple - William Blair

William Blair analyst Ryan Daniels reiterated an Outperform rating on Health Catalyst Inc. (NASDAQ: HCAT) after the company reported $36.8 million, in line with the Street forecast of $36.4 million and up 60% year-over-year. The highlight of the quarter however was the the adjusted loss before interest, taxes, depreciation, and amortization of $5.7 million, considerably better than the consensus estimate of a loss of $7.4 million. On a segment-level basis, technology revenue rose 87% year-over-year, professional services revenue increased 36%.

The analyst stated "While we would not anticipate material multiple expansion at these levels, we believe the company can maintain its current multiple and appreciate in line with strong sales growth; we maintain our Outperform rating and continue to view HCAT as a core long-term healthcare technology holding".

For an analyst ratings summary and ratings history on Health Catalyst Inc. click here. For more ratings news on Health Catalyst Inc. click here.

Shares of Health Catalyst Inc. closed at $44.00 yesterday.

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