Jefferies Starts athenahealth (ATHN) at Hold

Jefferies initiates coverage on athenahealth (NASDAQ: ATHN) with a Hold. PT $58.00.

The firm notes:

• Revenue growth remains >30%, driven by new Collector wins and more cross-selling into Clinicals and Communicator
  
• Gross margin improves as more services are automated and moved off-shore
  
• R&D remains flat as % of revenue; S&M increases slightly; and G&A declines

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 $58.49 yesterday.

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