William Blair analyst Ryan Daniels has reiterated their bullish stance on OPRX stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ryan Daniels’s rating is based on OptimizeRx’s impressive second-quarter performance and optimistic future outlook. The company reported a substantial 55% increase in revenue, surpassing market expectations, and demonstrated strong financial health with adjusted EBITDA significantly exceeding forecasts.
Additionally, OptimizeRx’s management raised revenue and EBITDA guidance, indicating confidence in sustained growth. The company’s ability to secure more than 30% growth in contracted revenue year-to-date provides strong visibility into future performance. Despite macroeconomic challenges, the digital marketing spend by pharma manufacturers remains robust, further supporting the company’s positive trajectory. The stock’s significant year-to-date appreciation and strategic positioning for continued market share gains also contribute to the Buy rating.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $19.00 price target.