UBS Maintains a 'Sell' on athenahealth (ATHN); Raising Numbers on Suspected Conservatism
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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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UBS maintains a 'Sell' on athenahealth (NASDAQ: ATHN) price target raised from $31 to $34.
UBS analyst says, "ATHN's 4Q11 revenue of $92.5 mil grew 33% y-o-y and was slightly ahead of the Street ($92.3 mil) but below UBSe ($93.1 mil). GM of 62.4% was 180 bps better than forecasted while SG&A (lower) and R&D (higher) essentially offset each other in our model. Given all the talk around investments pressuring margins, we believe the company has been very conservative with its forecasts as 4Q EBITDA margins were essentially in line with the 2 prior quarters. While 2012 guidance was unchanged, we have raised our 2012e EPS to $1.00 (from $0.96) due to this conservatism."
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 $64.01 yesterday.
UBS analyst says, "ATHN's 4Q11 revenue of $92.5 mil grew 33% y-o-y and was slightly ahead of the Street ($92.3 mil) but below UBSe ($93.1 mil). GM of 62.4% was 180 bps better than forecasted while SG&A (lower) and R&D (higher) essentially offset each other in our model. Given all the talk around investments pressuring margins, we believe the company has been very conservative with its forecasts as 4Q EBITDA margins were essentially in line with the 2 prior quarters. While 2012 guidance was unchanged, we have raised our 2012e EPS to $1.00 (from $0.96) due to this conservatism."
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 $64.01 yesterday.
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