Definitive Healthcare Corp (DH) PT Lowered to $2 at Stephens

Stephens analyst Jeff Garro lowered the price target on Definitive Healthcare Corp (NASDAQ: DH) to $2.00 (from $3.00) while maintaining a Equal Weight rating.

The analyst commented: "We believe DH is demonstrating continued progress in its turnaround, offering proof points on (1) data differentiation, (2) integrations, (3) durable customer success processes, and (4) innovations on new products and digital activations. These efforts have translated to partial operating metric success: 3 straight quarters of y/y improved renewals / GDR up ~2% y/y and provider and diversified customer revenue categories up y/y (largest category life science remains in decline). However, net dollar retention (NDR) still declined 400 BPs y/y and FY26 revenue guidance calls for an 8% decline at the midpoint (second consecutive year of declining revenue). Management believes NDR will improve a couple of points in FY26, which would set the stage for a return to growth in FY27. The sum of DH's turnaround efforts should drive Life Sciences revenue back to growth, but we see the timing as uncertain. Reiterate EW, TP from $3 to $2."

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