As of April 4, 2023, Health Catalyst (NASDAQ: HCAT) has received a significant upgrade from Wells Fargo. The financial institution has upgraded the stock from equal-weight to overweight and raised its price target from $13 to $16. According to Wells Fargo, the stock is undervalued and has the potential to outperform the market. This upgrade is based on Health Catalyst’s strong financial performance and growth prospects.
Health Catalyst is a healthcare data analytics company that offers data warehousing, analytics, and outcomes improvement solutions for healthcare organizations. The company’s solutions are designed to help healthcare organizations improve patient outcomes, reduce costs, and enhance operational efficiency. Health Catalyst’s customers include hospitals, health systems, and accountable care organizations.
Although Health Catalyst’s stock has had a volatile year, with a 12-month low of $6.40 and a high of $27.98, the stock opened at $11.87 on April 4, 2023, and was up 1.7% following the upgrade by Wells Fargo. Other analysts have also weighed in on Health Catalyst’s stock. Royal Bank of Canada increased their price objective on shares of Health Catalyst from $9.00 to $15.00 and gave the stock a “sector perform” rating. Citigroup reduced their target price on shares of Health Catalyst from $17.00 to $16.00 and set a “buy” rating on the stock. Finally, Raymond James raised their target price on shares of Health Catalyst from $15.00 to $18.00 and gave the company a “strong-buy” rating.
HCAT Stock Performance and Analysis on April 4, 2023: Positive Earnings and Revenue Growth, Low Future Projections
On April 4, 2023, HCAT stock opened at $12.55, which was higher than its previous close of $11.85. Throughout the day, the stock fluctuated within a range of $12.34 to $12.97. The volume for the day was 15,412, which was significantly lower than the average volume of 558,421 over the past three months. HCAT’s market capitalization was $649.0M.
HCAT’s earnings growth over the past year was 20.71%, and it is expected to grow by 57.69% this year. However, its earnings growth over the next five years is projected to be only 4.00%. The company’s revenue growth over the past year was 14.18%. HCAT’s P/E ratio was not available, but its price/sales ratio was 2.08 and its price/book ratio was 1.51.
On the same day, MGIC Magic Software Enter increased by 1.56%, while Silverlake Axis Ltd remained unchanged. HCAT’s next reporting date is May 4, 2023, and its EPS forecast for this quarter is -$0.04. The company’s annual revenue for the past year was $276.2M, and its annual profit was -$137.4M. HCAT’s net profit margin was -49.74%.
HCAT operates in the technology services sector and the packaged software industry. The company is headquartered in South Jordan, Utah, and no executives were displayed on the data source.
Overall, HCAT’s stock performance on April 4, 2023, was relatively stable, with the stock opening higher than its previous close and fluctuating within a narrow range throughout the day. The company’s earnings and revenue growth over the past year were positive, but its projections for future growth are relatively low. HCAT’s net profit margin was negative, indicating that the company is not currently profitable.
Health Catalyst Inc (HCAT) Stock Predicted to Increase by 28.82% in 2023: Analysts
, 2023
On April 4, 2023, Health Catalyst Inc (HCAT) stock had a median target price of $16.00, according to 13 analysts who offered 12-month price forecasts. The high estimate was $20.00, while the low estimate was $11.00. The median estimate represented a 28.82% increase from the last price of $12.42.
The current consensus among 15 polled investment analysts was to buy stock in Health Catalyst Inc. This rating had held steady since April, when it was unchanged from a buy rating. This suggests that investors were optimistic about the company’s future prospects.
Health Catalyst Inc’s current quarter earnings per share were -$0.04, with sales of $71.2 million. The reporting date for these results was May 04, 2023.
Overall, Health Catalyst Inc’s stock performance on April 4, 2023, was positive, with analysts predicting a significant increase in the company’s stock price over the next 12 months. The company’s current quarter results were not particularly strong, but investors seemed to be looking beyond this to the company’s potential for future growth.
It is important to note that stock prices are subject to change based on a variety of factors, including market conditions, company performance, and investor sentiment. Therefore, investors should always conduct their own research and analysis before making investment decisions.