$1.43 Analyst recommendation Mr. Goff said CloudMD has built an integrated healthcare platform on a modest capital outlay that brings “patient showcase capabilities and a significant competitive advantage in its low-cost B2B and B2C distribution capabilities.”
CloudMD Software & Services Inc. (DOC-X) is poised to benefit from the rise of telehealth brought on by the COVID-19 pandemic, according to Industrial Alliance Securities analyst Rob Goff. Mr. Goff sees Amazon.com Inc.‘s (AMZN-Q) moves toward the healthcare market “as endorsement for the sector’s demographic growth prospects, a threat to legacy models, and a catalyst to consolidate the ecosystem towards larger, vertically integrated providers.”
“These considerations support our bullish thesis towards CloudMD’s integrated healthcare platform development. Marquee partnerships with IBM (IBM-N) along with the Jim Pattison Group attest to management’s strength while contributing towards the development of differentiated technology and distribution
He set a target of $1.40 per share. The average is $1.43.
“We believe the current enterprise value at $86.1-million significantly undervalues the economic potential within CloudMD’s portfolio and strategy,” he said.