Canaccord Genuity Group Forecasts Strong Price Appreciation for HealthStream (NASDAQ:HSTM) Stock

HealthStream (NASDAQ:HSTM) had its target price hoisted by equities research analysts at Canaccord Genuity Group from $29.00 to $30.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s target price indicates a potential downside of 7.21% from the stock’s previous close.

HSTM has been the subject of a number of other reports. JMP Securities reaffirmed a “market perform” rating on shares of HealthStream in a research note on Thursday, February 6th. William Blair restated an “outperform” rating on shares of HealthStream in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, HealthStream has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

HealthStream Stock Down 0.1 %

HSTM traded down $0.04 during trading on Wednesday, hitting $32.33. 26,486 shares of the stock were exchanged, compared to its average volume of 118,203. The stock has a fifty day moving average price of $32.40 and a two-hundred day moving average price of $30.77. The firm has a market capitalization of $983.32 million, a P/E ratio of 49.68, a PEG ratio of 4.37 and a beta of 0.39. HealthStream has a 1-year low of $23.92 and a 1-year high of $34.24.

HealthStream (NASDAQ:HSTM) last posted its earnings results on Monday, February 24th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $74.24 million during the quarter, compared to analysts’ expectations of $73.55 million. HealthStream had a net margin of 6.84% and a return on equity of 5.67%. During the same quarter in the prior year, the firm earned $0.14 EPS. Analysts predict that HealthStream will post 0.63 EPS for the current year.

Hedge Funds Weigh In On HealthStream

A number of hedge funds have recently modified their holdings of the business. Copeland Capital Management LLC raised its holdings in shares of HealthStream by 17,363.4% in the fourth quarter. Copeland Capital Management LLC now owns 379,306 shares of the technology company’s stock valued at $12,062,000 after purchasing an additional 377,134 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of HealthStream by 3,889.2% in the 4th quarter. Cerity Partners LLC now owns 300,070 shares of the technology company’s stock worth $9,534,000 after acquiring an additional 292,548 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of HealthStream by 141.2% in the third quarter. Harbor Capital Advisors Inc. now owns 400,033 shares of the technology company’s stock worth $11,537,000 after purchasing an additional 234,148 shares during the last quarter. Norges Bank purchased a new position in HealthStream during the fourth quarter valued at $3,649,000. Finally, Vanguard Group Inc. increased its stake in HealthStream by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,055,060 shares of the technology company’s stock valued at $97,151,000 after purchasing an additional 92,067 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

About HealthStream

HealthStream, Inc provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. The company’s solutions help healthcare organizations in meeting their ongoing clinical development, talent management, training, education, assessment, competency management, safety and compliance, and scheduling, as well as provider credentialing, privileging, and enrollment needs.