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

Definitive Healthcare (NASDAQ:DH) had its price objective decreased by analysts at Canaccord Genuity Group from $10.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 54.74% from the stock’s current price.

A number of other analysts have also commented on the stock. Barclays lifted their target price on shares of Definitive Healthcare from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Needham & Company LLC reissued a “hold” rating on shares of Definitive Healthcare in a research note on Wednesday. Morgan Stanley lowered Definitive Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.50 to $9.00 in a research report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of Definitive Healthcare from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Definitive Healthcare currently has a consensus rating of “Hold” and a consensus price target of $9.94.

Definitive Healthcare Price Performance

DH stock opened at $5.17 on Wednesday. The company has a market capitalization of $608.97 million, a PE ratio of -2.90, a P/E/G ratio of 6.12 and a beta of 1.41. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $7.61 and its two-hundred day moving average is $8.27. Definitive Healthcare has a 52-week low of $4.38 and a 52-week high of $12.45.

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

Institutional Investors Weigh In On Definitive Healthcare

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in Definitive Healthcare by 599.6% in 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 bought a new position in shares of Definitive Healthcare in the 1st quarter valued at about $83,000. Berry Wealth Group LP bought a new position in shares of Definitive Healthcare in the 1st quarter valued at about $99,000. Reynders McVeigh Capital Management LLC acquired a new stake in shares of Definitive Healthcare in the fourth quarter valued at about $129,000. Finally, Arizona State Retirement System raised its holdings in Definitive Healthcare by 13.6% during the fourth quarter. Arizona State Retirement System now owns 14,253 shares of the company’s stock worth $142,000 after acquiring an additional 1,701 shares in the last quarter. 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.