Health Catalyst: Strong Q1 Performance and Promising Growth Outlook Drive Buy Rating

William Blair analyst Ryan Daniels has reiterated their bullish stance on HCAT stock, giving a Buy rating on April 23.

Ryan Daniels has given his Buy rating due to a combination of factors including Health Catalyst’s impressive first-quarter performance and optimistic future guidance. The company reported revenue slightly above expectations and significantly exceeded adjusted EBITDA estimates, indicating robust financial health.
Additionally, Health Catalyst’s strong bookings performance, with the addition of 10 new platform clients, suggests a promising trajectory for organic growth in 2025 and beyond. The reaffirmation of 2025 guidance by management, coupled with the positive reception of the new Ignite platform, further supports the potential for sustained success despite potential macroeconomic challenges.

In another report released on April 23, Citi also maintained a Buy rating on the stock with a $6.50 price target.