OptimizeRx price target lowered to $18 from $22 at RBC Capital

RBC Capital analyst Sean Dodge lowered the firm’s price target on OptimizeRx to $18 from $22 and keeps an Outperform rating on the shares. The analyst cites the company’s Q4 revenue miss as well as the "disappointing" guidance for 10%+ revenue growth, which is shy of the 20% messaged during its Q3 earnings call as well as the expectations implied in consensus estimates. While OptimizeRx management specifically mentioned heightened conservatism, it also the ongoing challenging macro conditions for the company, the firm tells investors in a research note, though on the positive side, the six disclosed RWE deals signed thus far for FY23 provide "high visibility" into the outlook.