Maxim lowered the firm’s price target on Augmedix (AUGX) to $5 from $6.50 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 revenue and an adjusted EBITDA loss both beating its estimates and consensus, with positives that include new wins and expansions and the trial of Augmedix Go in the emergency room setting with HCA Healthcare (HCA), with a full launch planned by the end of March 2024. The firm is also maintaining its revenue projections for 2024 and 2025, up 37% each year, but widening its 2024 EBITDA loss estimate primarily due to a 300bp gross margin impact from India and Bangledash in Q1 and higher opex, Maxim added.
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Read More on AUGX:
- Augmedix Delivers 45% Revenue Growth and Expanded Gross Margins for Fourth Quarter of 2023
- AUGX Earnings this Week: How Will it Perform?
- Augmedix announces data, product enhancements for Augmedix Go
- Augmedix Announces New Positive Data and Enhancements to Its Ambient AI Product, Augmedix Go
- Augmedix to Announce Fourth Quarter and Full Year 2023 Financial Results on March 18, 2024
