UPDATE: Piper Jaffray Initiates Coverage On Inovalon Holdings On Monetizing Big Data In Managed Care

In a report published Monday, Piper Jaffray analyst Sean W. Wieland initiated coverage on Inovalon Holdings Inc. INOV with a Neutral rating and $31.00 price target. In the report, Piper Jaffray noted, "We are initiating coverage on Inovalon with a Neutral rating and $31 price target. Inovalon is an integrated stack of healthcare data analytics and interventional processes that combined deliver risk adjustment and regulatory reporting capabilities to managed care organizations. At nearly 9x 2016E revenues, however, we believe the upside is priced in." Inovalon Holdings closed on Friday at $30.53.