Wells Fargo & Company Has Lowered Expectations for Health Catalyst (NASDAQ:HCAT) Stock Price

Key Points

• Wells Fargo cut Health Catalyst’s price target to $1.50 from $1.75 while maintaining an “equal weight” rating, implying 15.49% downside from the prior close.
• Analyst sentiment remains cautious: the stock has an overall “Hold” consensus, with four Buy, eight Hold and one Sell rating, and an average target price of $2.93.
• Health Catalyst recently exceeded quarterly expectations, reporting $0.04 EPS versus a $0.03 estimate and $70.49 million in revenue versus $69.09 million expected, though it continues to post a negative net margin.

Health Catalyst (NASDAQ:HCAT - Get Free Report) had its price objective decreased by investment analysts at Wells Fargo & Company from $1.75 to $1.50 in a report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 15.49% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reiterated a "neutral" rating on shares of Health Catalyst in a research report on Monday, May 11th. Weiss Ratings raised Health Catalyst from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. Canaccord Genuity Group boosted their target price on Health Catalyst from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Citigroup dropped their target price on Health Catalyst from $2.50 to $2.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Stephens lowered their price objective on Health Catalyst from $2.00 to $1.75 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Health Catalyst presently has an average rating of "Hold" and a consensus target price of $2.93.

Health Catalyst Stock Performance

NASDAQ HCAT opened at $1.77 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.69 and a current ratio of 1.69. The company has a fifty day moving average of $2.01 and a 200-day moving average of $1.69. Health Catalyst has a 52-week low of $0.96 and a 52-week high of $3.80. The company has a market capitalization of $133.59 million, a P/E ratio of -0.49 and a beta of 1.55.

Health Catalyst (NASDAQ:HCAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Health Catalyst had a negative return on equity of 1.57% and a negative net margin of 90.61%.The company had revenue of $70.49 million for the quarter, compared to analysts' expectations of $69.09 million. As a group, equities research analysts predict that Health Catalyst will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HCAT. nVerses Capital LLC bought a new stake in shares of Health Catalyst during the fourth quarter valued at approximately $25,000. Cresset Asset Management LLC bought a new stake in shares of Health Catalyst during the 2nd quarter valued at $39,000. Deutsche Bank AG purchased a new stake in shares of Health Catalyst in the 2nd quarter worth about $43,000. Focus Partners Wealth bought a new position in shares of Health Catalyst in the 1st quarter worth about $46,000. Finally, BNP Paribas Financial Markets lifted its position in Health Catalyst by 71.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,355 shares of the company's stock valued at $47,000 after acquiring an additional 6,832 shares during the period. Institutional investors own 85.00% of the company's stock.

About Health Catalyst

Health Catalyst NASDAQ: HCAT is a healthcare data and analytics technology company founded in 2008 and headquartered in Salt Lake City, Utah. The company went public in 2019 and has since focused on delivering a unified data platform that helps healthcare organizations aggregate and analyze clinical, financial and operational information.

The core of Health Catalyst's offering is the Data Operating System (DOS), a modular data management platform that integrates disparate data sources—from electronic health records to claims and patient-generated data—into a single analytics environment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source