Definitive Healthcare downgraded to Neutral from Buy at BTIG

BTIG analyst David Larsen downgraded Definitive Healthcare (DH) to Neutral from Buy and removed the firm’s price target. While were encouraged to hear management say on the call that churn is starting to stabilize, declines in revenue and client losses still seem to be material headwinds and it is unclear when top-line growth will rebound given that the bio-pharma market is facing pricing headwinds, the risk of tariffs, a more challenging fund-raising environment, the analyst tells investors. The firm also believes that Veeva (VEEV), Iqvia (IQV) and Doximity (DOCS) are “all very competitive,” the analyst added.