OnTrak (OTRK) PT Raised to $36 at Cowen Following Earnings

May 7, 2021 12:27 PM EDT
Get Alerts OTRK Hot Sheet
Price: $33.54 +1.33%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 13
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Cowen analyst Charles Rhyee raised the price target on OnTrak (NASDAQ: OTRK) to $36.00 (from $35.00) while maintaining an Outperform rating.

The analyst commented, "OTRK reported better than expected 1Q21 results, but lowered 2021 revenue guidance to $80M-$85M (prior $100M), and walked back from prior prelim 2022 implied guidance of $200M. We view these steps as positive events to reset expectations.and rebuild credibility w/ the Street. AET remains a wildcard, both with winding down the current contract and potentially signing a new agreement."



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