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SVB Securities Reaffirms Their Buy Rating on Allscripts (MDRX)

In a report released on November 30, Stephanie Davis from SVB Securities reiterated a Buy rating on Allscripts (MDRXResearch Report), with a price target of $24.00. The company’s shares closed yesterday at $18.90.

Davis covers the Technology sector, focusing on stocks such as Allscripts, NextGen Healthcare, and Tabula Rasa HealthCare. According to TipRanks, Davis has an average return of -3.1% and a 48.31% success rate on recommended stocks.

Currently, the analyst consensus on Allscripts is a Moderate Buy with an average price target of $21.17.

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Based on Allscripts’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $151.92 million and a net profit of $14.53 million. In comparison, last year the company earned a revenue of $144.67 million and had a net profit of $16.18 million

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Allscripts Healthcare Solutions, Inc. engages in the provision of clinical, financial, connectivity, information solutions, and related professional services. It operates through the following segments: Clinical and Financial Solutions; Population Health; and Netsmart. The Clinical and Financial Solutions segment involves in the sale of clinical software applications and financial and information solutions. The Population Health segment offers health management and coordinated care solutions. The Netsmart segment operates in the home care and behavioral healthcare information technology field throughout the United States. The company was founded in 1986 and is headquartered in Chicago, IL.

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