athenahealth PT Set at $181.00 by Piper Jaffray Cos. (ATHN)
Investment analysts at Piper Jaffray Cos. set a $181.00 price objective on shares of athenahealth (NASDAQ:ATHN) stock in a note issued to investors on Monday, Analyst Ratings News reports. The firm currently has a an “overweight” rating on the stock. Piper Jaffray Cos.’s price objective points to a potential upside of 38.35% from the company’s current price.
The analysts wrote, “ATHN is not an Electronic Health Records company. It is a fusion of SaaS, mobile, social, and crowdsourcing rolled into one, with an underlying platform that is able to monetize each. And Healthcare is an industry ripe to leverage these disruptive technologies. We believe the upcoming analyst day will help investors understand the long term growth strategy. We are raising our target to $181 based on the median EV/2014 Revenue multiple of 9.1 in the SaaS universe.”
athenahealth (NASDAQ:ATHN) traded up 6.36% during mid-day trading on Monday, hitting $139.15. 770,100 shares of the company’s stock traded hands. athenahealth has a one year low of $56.33 and a one year high of $132.48. The stock has a 50-day moving average of $110.7 and a 200-day moving average of $100.0. The company’s market cap is $5.169 billion.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.02. The company had revenue of $151.50 million for the quarter, compared to the consensus estimate of $154.80 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, analysts predict that athenahealth will post $1.03 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird raised their price target on shares of athenahealth from $104.00 to $125.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of athenahealth in a research note to investors on Friday. They now have a $160.00 price target on the stock. Finally, analysts at Jefferies Group reiterated an “underperform” rating on shares of athenahealth in a research note to investors on Friday. They now have a $75.00 price target on the stock, up previously from $60.00. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $120.50.
In other athenahealth news, CMO Robert Cosinuke sold 6,000 shares of the stock on the open market in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $108.21, for a total transaction of $649,260.00. Following the transaction, the chief marketing officer now directly owns 53,321 shares in the company, valued at approximately $5,769,865. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
athenahealth, Inc (NASDAQ:ATHN), is a business services company, which provides ongoing billing, clinical-related, and other related services to its customers.
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