Auriga maintains a 'Hold' on athenahealth (ATHN); Vulnerable in a Volatile Market at Current Valuation

Auriga maintains a 'Hold' on athenahealth (NASDAQ: ATHN) price target of $53.00.

Auriga analyst says, "We find shares of athenahealth expensive (trading 6% above our $53 target) particularly in light of a precarious market environment. Shares have held up well the latest quarter despite under-performance by the health IT group and broader cloud-based computing companies. We think the near-term drag from a sequentially down Q3 (as per our and consensus estimates) in addition to long-term headwinds from health reform could put pressure on shares."

For more ratings news on athenahealth click here and for the rating history of athenahealth click here.

Shares of athenahealth closed at $56.25 yesterday.

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