Fly News Breaks for December 6, 2019
Dec 6, 2019 | 10:23 EDT
Piper Jaffray analyst Sean Wieland says that a meeting with Livongo Health CEO Zane Burke earlier this week gave him the a better understanding of how the company took incremental adjusted EBITDA margins from negative 30.4% in Q1, to negative 12.5% in Q2, to positive 18.9% in Q3. The "magnitude and durability" of Livongo's sequential expansion in incremental EBITDA margins is one of the "most compelling, but under appreciated," pieces of the investment story, Wieland tells investors in a research note. Livongo has sustained greater than 150% revenue growth year-to-date and blessed a consensus number that implies 58% revenue growth in 2020, adds the analyst. He believes the company's outlook has "high visibility" and is "grounded in conservative assumptions." Wieland keeps an Overweight rating on Livongo Health with a $41 price target.
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