UPDATE - Auriga Downgraded athenahealth (ATHN) to Sell; Suggests Taking Profits as Things Get Cloudy
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Price: $9.59 --0%
Rating Summary:
6 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
Rating Summary:
6 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
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UPDATE - Auriga downgraded athenahealth (NASDAQ: ATHN) from Hold to Sell, maintains price target of $57.00.
Auriga analyst said, "We are downgrading shares of ATHN to SELL based on the stock's excessive valuation and our view that the Company's goals of 30% revenue growth will be increasingly harder to achieve amid slowing growth of doctor adds, exacerbated in part by mild customer attrition. We also note interesting competition from upstart CareCloud (private) which boasts a more flexible approach to the revenue cycle and a much friendlier and intuitive user interface. Given the stock's 50% move since its Analyst Day in December, on what we perceive to be weakening fundamentals, we recommend investors take profits as we envision 25% downside from current levels. Our $57 price target is unchanged."
To see more ratings on ATHN, Click Here
Auriga analyst said, "We are downgrading shares of ATHN to SELL based on the stock's excessive valuation and our view that the Company's goals of 30% revenue growth will be increasingly harder to achieve amid slowing growth of doctor adds, exacerbated in part by mild customer attrition. We also note interesting competition from upstart CareCloud (private) which boasts a more flexible approach to the revenue cycle and a much friendlier and intuitive user interface. Given the stock's 50% move since its Analyst Day in December, on what we perceive to be weakening fundamentals, we recommend investors take profits as we envision 25% downside from current levels. Our $57 price target is unchanged."
To see more ratings on ATHN, Click Here
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