William Blair analyst Ryan Daniels has reiterated their bullish stance on OPRX stock, giving a Buy rating today.
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Ryan Daniels has given his Buy rating due to a combination of factors including OptimizeRx’s impressive first-quarter performance, which exceeded expectations in both revenue and adjusted EBITDA. The company’s revenue was significantly higher than the consensus, and the adjusted EBITDA surpassed the anticipated negative figure, indicating strong financial health.
Additionally, the management’s increased guidance for the year, along with a notable rise in contracted revenue compared to previous levels, suggests strong future performance. Despite potential macroeconomic challenges, the company’s strategic focus on digital marketing and recurring-revenue services is expected to bolster margins and enhance revenue visibility. The stock’s substantial year-to-date gain and its attractive valuation further support the favorable risk/reward profile, making it a potential acquisition target for strategic partners.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $11.00 price target.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OPRX in relation to earlier this year.