Wells Fargo downgrades Health Catalyst with ‘no easy fix’

Wells Fargo downgraded Health Catalyst (HCAT) to Equal Weight from Overweight with a price target of $1, down from $5. The company’s revenue and margin pressures appear likely to persist into 2027, the analyst tells investors in a research note. Wells believes Health Catalyst’s sales and strategy pivots are unlikely to reverse these near-term trends. It cut estimates and sees “no easy fix” for the company.