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Stifel Nicolaus initiates its rating on Epocrates
EPOC with a Hold rating as it sees near term difficulties toward monetization of the company's product.
Stifel Nicolaus says, "While we believe Epocrates has a strong base of physician users, monetizing its investments in this base will likely be difficult for the company over the near term. The company plans to launch an electronic health record (EHR) product in 2012. However, while the company has a good
opportunity to leverage its network of users, it remains to be seen whether its mobile EHR solution will be accepted by physicians in a highly competitive market. In addition, a majority of the company's revenue is subject to pharmaceutical clients' budgeting and compliance capabilities. Budgeting constraints and regulatory holdups can negatively impact revenue growth."
EPOC closed at $9.30 per share on Tuesday.
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