Leerink analyst David Larsen lowered his price target for athenahealth to $100 from $130 to reflect slowing of the industry. The analyst notes that the company's management indicated that there is "no way" it will reach 30% year over year bookings growth in 2016 and, as a result, he estimates that the long-term bookings growth guidance may be 10%-20% at the company's investor day in December. While shares of athenahealth have pulled in following earnings, Larsen believes that 10%-20% growth would still be below most investors' expectations, which could result in more downside risk to the stock. He reiterates a Market Perform rating on the shares.