OptimizeRx Co. (NASDAQ:OPRX) Expected to Post Quarterly Sales of $17.60 Million

Wall Street analysts predict that OptimizeRx Co. (NASDAQ:OPRXGet Rating) will announce $17.60 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for OptimizeRx’s earnings. The highest sales estimate is $17.94 million and the lowest is $17.15 million. OptimizeRx reported sales of $13.63 million in the same quarter last year, which would suggest a positive year over year growth rate of 29.1%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that OptimizeRx will report full-year sales of $74.63 million for the current fiscal year, with estimates ranging from $61.29 million to $82.35 million. For the next year, analysts forecast that the business will post sales of $99.63 million, with estimates ranging from $83.29 million to $111.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for OptimizeRx.

OptimizeRx (NASDAQ:OPRXGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. OptimizeRx had a negative net margin of 4.30% and a negative return on equity of 1.76%. During the same quarter in the previous year, the business posted ($0.01) earnings per share.

A number of brokerages recently weighed in on OPRX. Lake Street Capital decreased their price target on shares of OptimizeRx from $98.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, February 16th. Roth Capital decreased their price target on shares of OptimizeRx from $112.00 to $66.00 in a research report on Thursday, May 5th. Zacks Investment Research raised shares of OptimizeRx from a “strong sell” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada decreased their price objective on shares of OptimizeRx from $100.00 to $50.00 in a research report on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, OptimizeRx presently has a consensus rating of “Buy” and an average price target of $69.80.

OptimizeRx stock traded up $2.98 during trading on Thursday, reaching $27.20. 331,199 shares of the company’s stock were exchanged, compared to its average volume of 206,914. The company’s 50-day moving average is $35.21 and its two-hundred day moving average is $49.67. OptimizeRx has a 52-week low of $21.33 and a 52-week high of $99.18. The firm has a market cap of $493.73 million, a price-to-earnings ratio of -170.00 and a beta of 0.91.

In other news, CEO William J. Febbo sold 16,666 shares of the stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $728,804.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Several hedge funds have recently modified their holdings of OPRX. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of OptimizeRx during the fourth quarter worth about $26,000. Point72 Hong Kong Ltd bought a new position in shares of OptimizeRx during the first quarter worth about $52,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of OptimizeRx by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,180 shares of the company’s stock worth $135,000 after purchasing an additional 658 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of OptimizeRx during the fourth quarter worth about $151,000. Finally, Teacher Retirement System of Texas acquired a new stake in OptimizeRx during the third quarter worth about $205,000. 83.61% of the stock is currently owned by institutional investors and hedge funds.

OptimizeRx Company Profile (Get Rating)

OptimizeRx Corporation, a digital health technology company, provides various solutions to life sciences organizations, healthcare providers, and patients. The company's products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-prescribe systems; and brand awareness and therapeutic support messaging services, such as brand awareness messages, reminder ads, and therapeutic support and unbranded messages.

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