athenahealth’s “Neutral” Rating Reaffirmed at Zacks (ATHN)
athenahealth (NASDAQ:ATHN)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Thursday. They currently have a $150.00 target price on the stock. Zacks‘s price objective indicates a potential upside of 4.84% from the stock’s previous close.
Zacks’ analyst wrote, “athenahealth’s saw adjusted earnings of $0.09 per share in the 2014-second quarter and beat the Zacks Consensus Estimate by $0.07. Revenues of $185.9 million rose 27.1% and also beat the mark. 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 $150.00.”
athenahealth (NASDAQ:ATHN) traded up 0.34% during mid-day trading on Thursday, hitting $143.56. The stock had a trading volume of 310,010 shares. athenahealth has a 1-year low of $97.30 and a 1-year high of $206.70. The stock’s 50-day moving average is $129.6 and its 200-day moving average is $142.9. The company has a market cap of $5.450 billion and a P/E ratio of 1312.57.
athenahealth (NASDAQ:ATHN) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $185.90 million for the quarter, compared to the consensus estimate of $182.14 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. Analysts expect that athenahealth will post $1.09 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ATHN. Analysts at Barclays reiterated an “equal weight” rating on shares of athenahealth in a research note on Monday, July 21st. They now have a $128.00 price target on the stock, up previously from $125.00. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of athenahealth in a research note on Monday, July 21st. They now have a $170.00 price target on the stock, down previously from $185.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of athenahealth in a research note on Monday, July 21st. They now have a $180.00 price target on the stock, down previously from $200.00. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $164.38.
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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