On Tuesday, Stifel reiterated its Buy rating on OptimizeRX Corp (NASDAQ:OPRX) with a price target of $8.00, following the announcement of a significant leadership change within the company. OptimizeRx (NASDAQ:OPRX) revealed that CEO Will Febbo has stepped down, and President Steve Silvestro will step in as the interim CEO.
Febbo's tenure as CEO lasted nine years, during which he played a pivotal role in expanding the company's product offerings and scaling the business from approximately $10 million in annual revenue to an estimated $90 million in 2024. The transition comes at a time when the company has completed the integration of its Medicx acquisition and has a salesforce ready to promote the integrated product suite.
Stifel's analysis suggests that OptimizeRx's next phase of growth will likely focus on operational execution. The firm anticipates that the management will concentrate on enhancing sales execution and achieving more consistent growth. This approach forms the basis for Stifel's growth projection for 2025, which is set at 7%, below the consensus estimate of 12%.
The update on OptimizeRx's leadership transition and Stifel's maintained Buy rating and price target reflect the company's potential to navigate through its next stage of development. The emphasis on sales execution and operational efficiency is expected to drive the company's performance in the upcoming year.
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