Stifel Nicolaus analyst Steve Rubis initiated coverage on HealthStream Tuesday, giving the company a 'hold' rating. Rubis has not set a price target for HealthStream, which he said has a competitive advantage thanks to its portfolio of workforce development solutions, but could come up short technologically.
"Although we believe HealthStream operates a strong SaaS-based distribution platform, we believe the company lacks a proprietary technological competitive advantage," Rubis said.
Shares of HealthStream (Ticker: HSTM) were down 2 percent Tuesday to $25.97.
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