UBS Maintains a 'Sell' on athenahealth (ATHN); 2012 EPS Guidance Disappoints

UBS maintains a 'Sell' on athenahealth (NASDAQ: ATHN) price target lowered by $1 to $31.

UBS analyst says, "ATHN provided 2012 guidance at its analyst day today (Table 1). The high end of 2012 revenue is expected to grow ~30% (roughly in-line with Street), but EPS growth will be pressured by investments in new products, SG&A and R&D. While we previously believed that some investors may be underestimating investments needed to support ATHN’s revenue growth, the impact to GM was more severe than we anticipated. Thus, we reduce our below consensus 2012 EPS estimate to $0.96 from $1.08."

For an analyst ratings summary and ratings history on athenahealth click here. For more ratings news on athenahealth click here.

Shares of athenahealth closed at $49.04 yesterday.

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