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

Definitive Healthcare (NASDAQ:DH) had its target price decreased by Canaccord Genuity Group from $10.00 to $8.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other analysts have also recently issued reports about the company. Morgan Stanley cut Definitive Healthcare from an overweight rating to an equal weight rating and dropped their price target for the stock from $11.50 to $9.00 in a research report on Wednesday. Stifel Nicolaus cut their target price on Definitive Healthcare from $11.00 to $9.50 and set a buy rating on the stock in a research note on Wednesday. Barclays lifted their price target on Definitive Healthcare from $10.00 to $11.00 and gave the stock an equal weight rating in a research report on Friday, March 1st. Finally, Needham & Company LLC restated a hold rating on shares of Definitive Healthcare in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $10.81.

Definitive Healthcare Stock Performance

Shares of DH remained flat at $5.35 on Wednesday. The stock had a trading volume of 390,337 shares, compared to its average volume of 608,925. The firm has a market capitalization of $630.18 million, a price-to-earnings ratio of -3.01, a price-to-earnings-growth ratio of 6.12 and a beta of 1.41. The company’s 50-day moving average price is $7.70 and its 200-day moving average price is $8.29. Definitive Healthcare has a 52 week low of $4.38 and a 52 week high of $12.45. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.20.

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

Hedge Funds Weigh In On Definitive Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position 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 valued at $58,000 after purchasing an additional 4,959 shares in the last quarter. Norden Group LLC purchased a new position in shares of Definitive Healthcare in the first quarter worth $83,000. Berry Wealth Group LP purchased a new stake in Definitive Healthcare during the 1st quarter valued at about $99,000. Reynders McVeigh Capital Management LLC acquired a new position in shares of Definitive Healthcare in the 4th quarter worth approximately $129,000. Finally, Arizona State Retirement System boosted its holdings in Definitive Healthcare by 13.6% during the 4th quarter. Arizona State Retirement System now owns 14,253 shares of the company’s stock valued at $142,000 after acquiring an additional 1,701 shares during the period. 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.