Stifel analyst David Grossman lowered the firm’s price target on Definitive Healthcare to $7.50 from $9.50 and keeps a Buy rating on the shares after the company preannounced Q2 revenue and EBITDA at the high-end of guidance and above consensus, but lowered second half revenue and EBITDA guidance midpoints by 7% and 17%, respectively. Definitive also disclosed the departure of Carrie Lazorchak, the company’s Chief Revenue Officer, and while “details were scarce in the filing,” the firm suspects the downward revision reflects potential disruptions from Lazorchak’s departure and also reflects continued healthcare end-market challenges and the hiring of new CEO Kevin Coop in mid-June.
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