Canaccord analyst Richard Close lowered the firm’s price target on Health Catalyst (HCAT) to $5 from $9 and keeps a Buy rating on the shares. The firm updated its model following Q2 results and following the company’s annual Health Analytics Summit they walked away from their time with management and clients encouraged by the direction Health Catalyst is heading. That is, shifting the business to high-margin technology and less reliance on lower-margin Professional services as AI technology is more heavily integrated into the company’s offerings.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HCAT:
- Micron initiated, Eli Lilly upgraded: Wall Street’s top analyst calls
- Health Catalyst downgraded to Neutral from Overweight at Piper Sandler
- Health Catalyst Earnings Call: Growth Amid Challenges
- Health Catalyst Faces Uncertainty Amid Leadership Change and Revenue Guidance Cut
- Health Catalyst price target lowered to $6 from $10 at Wells Fargo