Piper Jaffray Believes In Athenahealth (ATHN)

Piper Jaffray is a believer in athenahealth, Inc ATHN. It has an Overweight rating and a $47 price target on shares. In a note sent to clients Piper Jaffray writes, "The second ambulatory survey (done by CapSite™ for Piper Jaffray) suggests increased physician confidence on the stimulus and increased adoption rate expectations. The survey participants represented 10% of the market, making this a compelling representation of the market. EHR buying intentions is up 15% overall to 51% while the smaller (1-2) practices' intentions grew 22% to 55%. Survey shows strong recent buying within the larger/hospital owned practices while the smaller practices lagged as expected due to the delay in final stimulus requirements. Strong intentions within smaller practices and the preferred 12-24 month time frame makes us believe in ATHN, MDRX and QSII." Shares of ATHN lost 14 cents on Friday to close at $40.71.