Definitive Healthcare

DH · NASDAQ

$1.13+$0.03 (+2.73%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $1.10

DH analyst rating

HoldConsensus of 5 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold3
Underperform2
Sell0

12-month price target · 9 analysts

Average $1.73 (+53.5% upside)

Low: $0.707
Now: $1.13
High: $3.15

Upgrades and downgrades

The latest rating actions, newest first

DH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Aug 11, 2026	Maintains	Equal-Weight	$2.50 → $1.50	61%
B of A Securities	Jun 29, 2026	Downgrade	Buy → Underperform	$3.50 → $0.70	58%
Barclays	Mar 30, 2026	Maintains	Underweight	$2.75 → $1.00	66%
Canaccord Genuity	Feb 27, 2026	Maintains	Hold	$4.00 → $3.00	52%
Stephens & Co.	Feb 27, 2026	Maintains	Equal-Weight	$3.00 → $2.00	34%
Barclays	Dec 9, 2025	Maintains	Underweight	$3.00 → $2.75	66%
Canaccord Genuity	Nov 10, 2025	Maintains	Hold	$5.00 → $4.00	52%

The case for and against

Updated May 1, 2025

Bull case

Definitive Healthcare Corp has demonstrated a positive trajectory with management reporting improvements in account relationships and compensation structures that enhance customer retention and account growth. The company has tightened its FY24 topline outlook towards the high end, now projecting adjusted EBITDA ahead of previous estimates, which reflects a slight increase above consensus expectations. Furthermore, the focus on key performance indicators and pipeline metrics is expected to enhance predictability and potentially support a return to growth in the latter half of 2025, positioning the company favorably for future performance.

Bear case

Definitive Healthcare Corp's financial outlook is marred by a notable 5.2% year-over-year decline in adjusted EBITDA, which recorded $20.6 million, suggesting challenges in maintaining profitability against a backdrop of rising operating expenses. The company's customer churn, particularly among smaller clients, has adversely affected average revenue per customer, which saw a marginal quarter-over-quarter decline of 0.4% and a 4.5% drop in the $100k+ annual recurring revenue segment. Furthermore, the elongation of sales cycles by 2-3 months and a decline in gross margins by 329 basis points year-over-year to 82.4% underscore the operational difficulties faced by the company, highlighting a concerning trend for future revenue generation and profitability.

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