Stifel launches coverage of HealthStream

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.