Deutsche Bank lowered the firm’s price target on Definitive Healthcare to $7 from $10 and keeps a Hold rating on the shares. The firm notes Definitive Healthcare reported Q1 results and trimmed 2024 guidance due to macro headwinds and disruptions from restructuring its sales org at the beginning of the year, which led to a sharp fall in the shares. The slow starts to the year were mainly attributed to two factors, including macro headwinds that sales cycles remain elongated as new logo buyers scrutinize on spendings and significant disruption in sales efforts in the first few months of the year from restructuring disruptions, Deutsche adds.
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