athenahealth Stock Rating Reaffirmed by Zacks (ATHN)
athenahealth (NASDAQ:ATHN)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Wednesday. They currently have a $129.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.78% from the company’s current price.
Zacks’ analyst wrote, “athenahealth’s 2014-first quarter adjusted loss of $0.08 per share was broader than the Zacks Consensus Estimate of a loss of a penny. Revenues of $163.0 million also lagged the Zacks Consensus Estimate of $170 million. The company has made rapid strides in capturing the EHR business of physician practices. Its takeover of Epocrates in early 2013 will allow it to grow its user base. However, the federal Stimulus is winding down. Larger competitors may benefit from the incumbency factor. Cloud computing may give rise to concerns about privacy and data security. As such, we maintain our Neutral recommendation on the stock and set a target of $129.00.”
In other athenahealth news, CEO Jonathan Bush sold 1,000 shares of the company’s stock on the open market in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $129.45, for a total transaction of $129,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus initiated coverage on shares of athenahealth in a research note on Wednesday, June 25th. They set an “overweight” rating and a $192.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $166.76.
Shares of athenahealth (NASDAQ:ATHN) traded down 0.92% on Wednesday, hitting $121.95. The stock had a trading volume of 453,243 shares. athenahealth has a 52 week low of $86.14 and a 52 week high of $206.70. The stock has a 50-day moving average of $126.2 and a 200-day moving average of $145.3. The company’s market cap is $4.615 billion.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.17 by $0.05. The company had revenue of $163.00 million for the quarter, compared to the consensus estimate of $170.03 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. Analysts expect that athenahealth will post $1.04 EPS for the current fiscal year.
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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