Published on 4 Jan 2022 on Zacks via Yahoo Finance

Here's Why You Should Hold on to NextGen (NXGN) Stock Now

NextGen Healthcare, Inc. NXGN is well-poised for growth backed by strong demand for its solutions and strength in electronic health records (EHR). However, stiff competition remains a concern.Shares of this Zacks Rank #3 (Hold) company have lost 1.8% compared with the industry’s decline of 38.2% in a year’s time. The S&P 500 Index has rallied 29.7% in the same time frame.NextGen — with a market capitalization of $1.22 billion — is a developer and marketer of healthcare information systems. It anticipates earnings to improve 8.5% over the next five years. The company has a trailing four-quarter earnings surprise of 16%, on average.

Key Catalysts

NextGen continues to benefit from strong demand for its solutions.In November, Eye Center South started utilizing NextGen Mobile to improve practice efficiency and bolster patient volume and access. In October, Community Health Center of Snohomish County (CHC of Snohomish County), a federally qualified health center (FQHC) in Washington state, adopted the company’s full solution suite including NextGen Enterprise EHR and NextGen Enterprise PM as well as NextGen Population Health and NextGen Patient Experience Platform.In the same month, NextGen’s client Mednax, Inc. expanded its use of NextGen’s integrated platform. Mednax has adopted NextGen Virtual Visits to see and treat patients remotely and NextGen Mobile, which allows its providers to access schedules and records, streamline clinical documentation and collaborate with other care team members all from a smartphone.