Wells Fargo Starts athenahealth at Outperform; Three Reasons Why ATHN Will Gain Market Share

Wells Fargo initiates coverage on athenahealth (NASDAQ: ATHN) with an Outperform. PT range $85-90.

Analyst, Jamie Stockton, said, "We believe it is gaining significant market share for three reasons: (1) its Web-based software is low maintenance in an industry where client/server solutions still dominate; (2) it provides a heavy level of service around its software that eliminates labor for the practice and drives a clear ROI; and (3) its percent-of-collections fees, i.e., “we get paid when you get paid” business model aligns its interest with those of clients. We see athenahealth as the most differentiated physician practice billing and EHR software provider."

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 $76.34 yesterday.

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