Canaccord Genuity Group Lowers Definitive Healthcare (NASDAQ:DH) Price Target to $8.00

Definitive Healthcare (NASDAQ:DH) had its target price reduced by Canaccord Genuity Group from $10.00 to $8.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 55.64% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Definitive Healthcare in a research note on Wednesday. Stifel Nicolaus dropped their target price on shares of Definitive Healthcare from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Wednesday. Barclays raised their target price on shares of Definitive Healthcare from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, Morgan Stanley cut shares of Definitive Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $11.50 to $9.00 in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.81.

Definitive Healthcare Stock Performance

NASDAQ DH traded down $2.11 on Wednesday, reaching $5.14. 3,427,625 shares of the stock were exchanged, compared to its average volume of 591,661. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.20. Definitive Healthcare has a one year low of $4.38 and a one year high of $12.45. The firm has a market capitalization of $605.44 million, a PE ratio of -2.84, a PEG ratio of 6.12 and a beta of 1.41. The company’s 50-day simple moving average is $7.78 and its two-hundred day simple moving average is $8.31.

Definitive Healthcare (NASDAQ:DH) last released its earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Definitive Healthcare had a negative net margin of 80.40% and a positive return on equity of 0.43%. The firm had revenue of $65.93 million for the quarter, compared to analysts’ expectations of $66.01 million. Analysts expect that Definitive Healthcare will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DH. Tower Research Capital LLC TRC increased its stake in Definitive Healthcare by 599.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,786 shares of the company’s stock worth $58,000 after acquiring an additional 4,959 shares during the last quarter. Norden Group LLC purchased a new position in shares of Definitive Healthcare in the 1st quarter worth approximately $83,000. Berry Wealth Group LP bought a new position in shares of Definitive Healthcare during the 1st quarter valued at approximately $99,000. SG Americas Securities LLC purchased a new stake in Definitive Healthcare during the 3rd quarter valued at $116,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Definitive Healthcare in the first quarter worth $120,000. Institutional investors own 98.67% of the company’s stock.

About Definitive Healthcare

Definitive Healthcare Corp., together with its subsidiaries, provides software as a service (SaaS) healthcare commercial intelligence platform in the United States and internationally. Its SaaS platform provides information on healthcare providers and their activities to help its customers from product development to go-to-market planning, and sales and marketing execution.