Inovalon missed Q4 revenue and profitability, guided Q1 below consensus views, but reiterated its full year 2019 guidance, Piper Jaffray analyst Sean Wieland tells investors in a post-earnings research note titled “We’re Not Buying It.” It is important to focus on organic subscription revenue growth, which was down 9% sequentially and flat for the trailing two years, but now must grow 24% in 2019 to hit the midpoint of guidance, says the analyst. He’s “not buying it,” and is calling for another year-end miss. Wieland reiterates an Underweight rating on Inovalon with an $8 price target.
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