Analyst Eric Martinuzzi of Lake Street reiterated a Buy rating on OptimizeRx (OPRX – Research Report), retaining the price target of $11.00.
Eric Martinuzzi has given his Buy rating due to a combination of factors that highlight OptimizeRx’s promising growth trajectory and strategic positioning. The company has set a revenue target of at least $100 million for 2025, with expectations to capture a larger share of the growing pharma digital advertising market, which is projected to expand by 10%-15%. This optimism is supported by the company’s $70 million in contracted revenue, marking a 20% increase from the previous year.
Additionally, the potential shift in marketing strategies due to RFK Jr.’s initiative could benefit OptimizeRx, as their platform offers significantly higher ROI compared to traditional TV advertising. The acquisition of Medicx, despite its initial challenges, is expected to enhance their targeting capabilities, aligning with their strategic goals. Furthermore, OptimizeRx’s achievement of the Rule of 40 in Q4’24 and their efforts to improve their balance sheet by reducing debt costs further reinforce the positive outlook for the company’s future performance.
In another report released on March 12, JMP Securities also reiterated a Buy rating on the stock with a $8.00 price target.