Inovalon (INOV), a provider of Big Data services to health care payers, jumped 5% in early trading Friday on positive analyst coverage, continuing a rebound from a sharp slide. Goldman Sachs analyst Andre Benjamin upgraded Inovalon to buy from neutral with a price target of 31, saying that the valuation has become appealing. “The large addressable market should sustain strong growth for many years — $435 million in 2015E revenue implies 4%
Recent IPO Inovalon (INOV) was trading down as a passel of analysts issued mixed initiation reports Monday. As the underwriters’ quiet period ended following the company’s Feb. 11 IPO, their analysts were split between buy and neutral ratings. On the bull side, Robert W. Baird analyst Matthew Gillmor cited the uniqueness of Inovalon’s offering, deploying Big Data to help health care providers analyze risk and quality-management issues. “INOV’s
Inovalon (INOV) received a solid IPO reception Thursday in a deal that raised $600 million for the data analytics company. Inovalon provides a cloud-based health care data analytics service used by hospitals, physicians, clinical facilities and patients. In its IPO prospectus, Inovalon said its proprietary technology provides Big Data, large-scale analytics that can identify gaps in care, quality, data integrity and financial performance. Based in