OptimizeRX (OPRX) PT Lowered to $11 at Lake Street Capital Markets

Lake Street Capital Markets analyst Eric Martinuzzi lowered the price target on OptimizeRX (NASDAQ: OPRX) to $11.00 (from $15.00) while maintaining a Buy rating.

The analyst commented: "Revenue came in roughly $3.7M short of the $25.0M consensus. This was mainly due to a shortfall in the Medicx business (DTC). The company noted customers have begun to shift away from managed services media and towards a more self-serve approach. The company did benefit from its self-service model in the quarter, but it was not enough to offset the large drop in managed services demand. The company is implementing changes to its 2025 plan with greater focus on self-serve which should alleviate some of the softness in the DTC business. With that being said, the company lowered its 2024 outlook to account for the change. The company stubbed its toe again in Q3. While DAAP remains solid, we took a significant chunk out of our 2025 revenue as we are concerned about a DTC recovery. We lowered our price target to $11."

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