The funding financial institution mentioned it noticed NextGen’s choices as “nicely positioned” for an anticipated shift in US healthcare to value-based care and shared financial savings fashions. It added that the “community impact” of its extensively put in MirthConnect well being knowledge platform permits the corporate to “outpace” market progress within the value-based care assist instruments market.

“We consider the corporate’s balanced strategy to income and margin progress, excessive recurring income combine and well-capitalized stability sheet create a sexy funding profile,” the financial institution added.

Cantor set a worth goal of $21 for the inventory.