Auriga Reiterates a 'Hold' on athenahealth (ATHN); Strong Q2 Results, Guidance; Raise Target
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Price: $9.59 --0%
Rating Summary:
6 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga reiterates a 'Hold' on athenahealth (NASDAQ: ATHN), raises price target to $53 from $45.
Auriga analyst says, "We are reiterating our rating on ATHN while increasing our price target to $53 on the heels of strong Q2 results that outpaced our estimates across the board. Higher provider additions vis- -vis our model drove the revenue outperformance while operating efficiencies, and perhaps a degree of underinvestment, drove the margin expansion and EPS beat. Though ATHN's H2 outlook seems muted relative to the strong Q2 print, some margin drag from the acquisition and an elevated level of investment should still place EPS to the high end of management's range of $0.70-$0.83. ATHN deserves credit for its execution and positioning as the highest growth story in health IT. Our sense is that short covering is driving much of today's action and we would look for better opportunities to own the name."
For more ratings news on athenahealth click here and for the rating history of athenahealth click here.
Shares of athenahealth closed at $48.58 yesterday.
Auriga analyst says, "We are reiterating our rating on ATHN while increasing our price target to $53 on the heels of strong Q2 results that outpaced our estimates across the board. Higher provider additions vis- -vis our model drove the revenue outperformance while operating efficiencies, and perhaps a degree of underinvestment, drove the margin expansion and EPS beat. Though ATHN's H2 outlook seems muted relative to the strong Q2 print, some margin drag from the acquisition and an elevated level of investment should still place EPS to the high end of management's range of $0.70-$0.83. ATHN deserves credit for its execution and positioning as the highest growth story in health IT. Our sense is that short covering is driving much of today's action and we would look for better opportunities to own the name."
For more ratings news on athenahealth click here and for the rating history of athenahealth click here.
Shares of athenahealth closed at $48.58 yesterday.
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