Oppenheimer Pours Salt on athenahealth's (ATHN) Wounds
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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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Even with shares of athenahealth (NASDAQ: ATHN) trading lower by more than 10 percent since reporting earnings last week, analysts at Oppenheimer remain pessimistic.
"We believe the market is infatuated with athena's story of improving the financial position of physicians, and willing to ignore the lack of growth in physician adds," said analyst Bret Jones.
"While athena's core Collector offering has altered the RCM landscape with its software-enabled service, we also believe the market fails to appreciate the likelihood of sustained sales and marketing expenses to acquire customers," added Jones.
In terms of electronic health records, Jones believes the enterprise market is heavily penetrated and athena is late to market.
Oppenheimer has a Perform rating on athenahealth.
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 $73.31 yesterday.
"We believe the market is infatuated with athena's story of improving the financial position of physicians, and willing to ignore the lack of growth in physician adds," said analyst Bret Jones.
"While athena's core Collector offering has altered the RCM landscape with its software-enabled service, we also believe the market fails to appreciate the likelihood of sustained sales and marketing expenses to acquire customers," added Jones.
In terms of electronic health records, Jones believes the enterprise market is heavily penetrated and athena is late to market.
Oppenheimer has a Perform rating on athenahealth.
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 $73.31 yesterday.
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