Evercore ISI Has Lowered Expectations for Health Catalyst (NASDAQ:HCAT) Stock Price

Key Points

• Evercore ISI has reduced its target price for Health Catalyst (NASDAQ: HCAT) from $4.00 to $3.00, indicating a modest potential upside of 5.26% from the current stock price.
• Multiple analysts have downgraded the stock, with Piper Sandler changing its rating from "overweight" to "neutral" and lowering its price target from $8.00 to $4.00.
• Currently, Health Catalyst has a consensus rating of "Hold" from analysts, with a collective price target of $4.55.

Health Catalyst (NASDAQ:HCAT - Get Free Report) had its target price reduced by analysts at Evercore ISI from $4.00 to $3.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price objective suggests a potential upside of 5.26% from the company's current price.

A number of other research analysts have also issued reports on the company. Piper Sandler lowered Health Catalyst from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 27th. Stifel Nicolaus decreased their target price on shares of Health Catalyst from $5.50 to $4.50 and set a "hold" rating for the company in a research report on Friday, August 8th. Citigroup downgraded shares of Health Catalyst from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $6.50 to $3.50 in a research report on Friday, August 8th. Canaccord Genuity Group decreased their price objective on shares of Health Catalyst from $9.00 to $5.00 and set a "buy" rating for the company in a report on Friday, August 29th. Finally, Summit Redstone set a $5.00 target price on Health Catalyst in a research report on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Health Catalyst presently has a consensus rating of "Hold" and a consensus price target of $4.55.

Health Catalyst Price Performance

Shares of NASDAQ HCAT opened at $2.85 on Wednesday. Health Catalyst has a fifty-two week low of $2.52 and a fifty-two week high of $9.24. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The firm has a market cap of $200.55 million, a PE ratio of -1.89 and a beta of 1.62. The business has a 50 day moving average price of $3.17 and a two-hundred day moving average price of $3.69.

Institutional Investors Weigh In On Health Catalyst

Several large investors have recently made changes to their positions in the company. Cresset Asset Management LLC bought a new position in shares of Health Catalyst during the 2nd quarter valued at $39,000. Divergent Planning LLC acquired a new position in Health Catalyst during the second quarter worth $45,000. Focus Partners Wealth acquired a new position in Health Catalyst during the first quarter worth $46,000. XTX Topco Ltd bought a new position in Health Catalyst during the first quarter valued at about $54,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Health Catalyst in the second quarter worth about $73,000. Institutional investors own 85.00% of the company's stock.

Health Catalyst Company Profile

Health Catalyst, Inc provides data and analytics technology and services to healthcare organizations in the United States. It operates in two segments, Technology and Professional Services. The company provides data operating system data platform which provides clients single comprehensive environment to integrate and organize data from their disparate software systems; and analytics applications, a software analytics applications build for data platform to analyze clients face across clinical and quality, population health, and financial and operational use cases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.