William Blair analyst Ryan Daniels has maintained their bullish stance on HCAT stock, giving a Buy rating on March 18.
Ryan Daniels has given his Buy rating due to a combination of factors that were discussed during recent virtual meetings with Health Catalyst’s management team. The discussions highlighted the company’s focus on enhancing its organic growth and the capabilities of its next-generation Ignite data platform. Daniels noted that the platform’s adoption and penetration within the client base are crucial for achieving the company’s ambitious 2028 revenue and profit targets.
Furthermore, Daniels’s confidence in Health Catalyst is bolstered by the company’s strategic execution, which aims to provide clearer insights into its growth trajectory. The meetings reinforced his positive outlook, as they provided additional assurance about the platform’s potential and the long-term growth and margin improvements that are anticipated. Overall, these elements contribute to Daniels’s belief that Health Catalyst is an undervalued asset in the healthcare IT sector.
Daniels covers the Healthcare sector, focusing on stocks such as Health Catalyst, Addus Homecare, and HealthStream. According to TipRanks, Daniels has an average return of 7.2% and a 47.12% success rate on recommended stocks.
In another report released on March 18, Canaccord Genuity also maintained a Buy rating on the stock with a $10.00 price target.