BTIG analyst David Larsen has maintained their bullish stance on HCAT stock, giving a Buy rating yesterday.
David Larsen has given his Buy rating due to a combination of factors including Health Catalyst’s strong financial performance and promising growth prospects. The company reported better-than-expected revenue and adjusted EBITDA for the first quarter of 2025, surpassing both BTIG and consensus estimates. Despite providing conservative guidance for the second quarter, Health Catalyst reaffirmed its full-year guidance, indicating confidence in its financial trajectory.
Moreover, the company is experiencing a positive selling season and anticipates adding new platform clients, which is expected to drive revenue growth. The introduction of the Ignite platform, which offers higher margins and flexibility, is also seen as a significant advantage. With an expected EBITDA growth of 54% year-over-year in 2025 and robust tech sales, Larsen views Health Catalyst as well-positioned for future success, justifying the Buy rating.