- Stifel's Steven Rubis: "We are downgrading shares of WebMD (NASDAQ:WBMD) from Buy to Hold, as the preponderance of evidence associated with our channel checks reflect negative data trends and deterioration of possible positive catalysts seems to limit share price upside." His $52 target has been pulled.
- The downgrade comes as WebMD hosts its annual meeting, and announces a partnership with Walgreens. WebMD's virtual wellness-coaching services will be offered to Walgreens customers, and WebMD's content will be integrated with Walgreens' "digital experience and stores."
- Ahead of its annual meeting, WebMD affirmed its Q3 and full-year guidance.