Health Catalyst shares are trading lower after the company reported Q4 financial results and issued Q1 and FY24 revenue guidance below estimates. Also, Canaccord Genuity maintained a Buy rating on the stock but lowered its price target from $12 to $11.
Portfolio Pulse from Benzinga Newsdesk
Health Catalyst's stock trades lower following its Q4 financial results, with Q1 and FY24 revenue guidance falling below expectations. Canaccord Genuity maintains a Buy rating but reduces the price target from $12 to $11.
February 23, 2024 | 5:01 pm
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Health Catalyst's shares decline due to disappointing Q4 financial results and lower than expected Q1 and FY24 revenue guidance. Despite this, Canaccord Genuity maintains a Buy rating, albeit with a reduced price target.
The decline in Health Catalyst's stock price is directly related to its Q4 financial performance and the subsequent lower revenue guidance for Q1 and FY24, which likely disappointed investors. Canaccord Genuity's continued support with a Buy rating suggests some level of confidence in the company's long-term prospects, but the reduction in the price target reflects the immediate negative impact of the financial results and guidance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100