Nextgen Healthcare (NXGN) Rating Reiterated by Cantor Fitzgerald

Nextgen Healthcare (NASDAQ:NXGN)‘s stock had its “buy” rating reissued by investment analysts at Cantor Fitzgerald in a note issued to investors on Thursday. They currently have a $23.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 30.31% from the company’s current price.

The analysts wrote, “. We reiterate our Overweight rating on NXGN shares and maintain our price target of $23. We recently met with NXGN management team. We remain confident that some of the issues that came up with its F2Q19 results (reported in late October) were temporary in nature. As a reminder, F2Q19 bookings were about $36 million, representing growth of 39% y/y, which is impressive. However, as deal size increases, implementation timelines expand and short-term revenue is not hitting expectations. The company also experienced higher-than-expected customer attrition. After considering the elevated attrition during the quarter and the company’s expectation that it will remain elevated for some time, we reduced our F20 revenue growth assumption to 5.7% from 7.0%.””

Several other brokerages have also recently issued reports on NXGN. Zacks Investment Research upgraded shares of Nextgen Healthcare from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet cut shares of Nextgen Healthcare from a “b-” rating to a “c+” rating in a report on Wednesday, November 21st. Morgan Stanley upgraded shares of Nextgen Healthcare from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $12.00 to $16.00 in a report on Thursday, November 1st. Finally, KeyCorp cut their target price on shares of Nextgen Healthcare from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.33.

Shares of Nextgen Healthcare stock traded down $0.12 on Thursday, hitting $17.65. The stock had a trading volume of 368,100 shares, compared to its average volume of 322,950. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.33 and a current ratio of 1.33. Nextgen Healthcare has a one year low of $12.24 and a one year high of $23.73. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 3.53 and a beta of 0.97.

Nextgen Healthcare (NASDAQ:NXGN) last issued its earnings results on Tuesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Nextgen Healthcare had a net margin of 1.17% and a return on equity of 10.23%. The firm had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $134.55 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Nextgen Healthcare will post 0.57 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new stake in Nextgen Healthcare in the third quarter valued at $165,000. BlueMountain Capital Management LLC bought a new stake in Nextgen Healthcare in the third quarter valued at $205,000. Quantbot Technologies LP bought a new stake in Nextgen Healthcare in the third quarter valued at $207,000. Hanson & Doremus Investment Management bought a new stake in Nextgen Healthcare in the third quarter valued at $208,000. Finally, Piedmont Investment Advisors Inc. bought a new stake in Nextgen Healthcare in the third quarter valued at $222,000. Institutional investors and hedge funds own 68.75% of the company’s stock.

About Nextgen Healthcare

NextGen Healthcare, Inc provides software, services, and analytics solutions to medical and dental group practices in the United States. The company's principal products include NextGen Enterprise EHR, which stores and maintains clinical patient information; and a workflow module, prescription management, automatic document and letter generation, patient education, referral tracking, interfaces to billing and lab systems, physician alerts and reminders, and reporting and data analysis tools.

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