Jefferies Upgrades Athenahealth to Hold

By Jason Carr

Jefferies analyst Sean Dodge upgraded Athenahealth (NASDAQ: ATHN) to Hold today and set a price target of $135. The company’s shares closed yesterday at $130.07.

According to, Dodge is a 3-star analyst with an average return of 2.5% and a 67.1% success rate. Dodge covers the Technology sector, focusing on stocks such as Medidata Solutions, Quality Systems, and Evolent Health.

Athenahealth has an analyst consensus of Moderate Buy, with a price target consensus of $127.50.

Based on Athenahealth’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $285 million and GAAP net loss of $1.4 million. In comparison, last year the company earned revenue of $256 million and had a GAAP net loss of $833K.

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athenahealth, Inc. provides cloud-based business services and mobile applications for medical groups and health systems. It also provides ongoing billing, clinical-related, and other related services to customers. The company offers practice management and electronic health record services. Its service offerings are based on proprietary web-native practice management and electronic health record software, which offer payer knowledge-base and integrated back-office service operations and care coordination services. The company’s cloud-based software offers four integrated offerings through athenaNet; athenaCollector for revenue cycle management; athenaClinicals for clinical cycle management; athenaCommunicator for patient cycle management; and athenaCoordinator for referral cycle management. Athenahealth was founded by Jonathan S. Bush and Todd Y. Park on August 21, 1997 and is headquartered in Watertown, MA.