Blucora Receives Buy Rating from Zacks (BCOR)
Blucora (NASDAQ:BCOR)‘s stock had its “buy” rating reaffirmed by Zacks in a report released on Friday. They currently have a $27.00 target price on the stock, down from their previous target price of $28.00. Zacks‘s price target suggests a potential upside of 60.57% from the company’s current price.
The analysts wrote, “Blucora (BCOR-Buy, PT from $28 to $27) reported slightly better-than-expected 2Q14 results, driven by modest upside in Tax and Search & Content. “Shares, unfortunately, will likely suffer near-term due to an overly aggressive consensus, despite 3Q guidance matching our recently revised projections minus some incremental additional spending in Tax, as the street largely ignored the recent trends in the affiliate search space, with 2015 appearing particularly egregious. However, while IAC (IACI-Buy) and Perion (PERI-Buy) are expecting significant step-downs in 3Q search revenue, we believe 2Q represents the reset quarter for Blucora, with 3Q possibly marking a bottom for consolidated search, although O&O revenue is likely to begin growing sequentially next quarter. “We are reserving judgment on Monoprice until 4Q, but even now assigning a discounted multiple of 9x while maintaining our industry multiples of 5x for Search and 11x for Tax, we still arrive at sum-of-the-parts valuation of $27 per share in value, or at least $24 excluding our conservative PV valuation for Blucora’s $723 million in NOLs.”
Blucora (NASDAQ:BCOR) traded down 5.68% on Friday, hitting $15.86. The stock had a trading volume of 1,185,233 shares. Blucora has a 1-year low of $16.65 and a 1-year high of $30.12. The stock’s 50-day moving average is $17.78 and its 200-day moving average is $19.6. The company has a market cap of $670.2 million and a P/E ratio of 27.57.
Blucora (NASDAQ:BCOR) last announced its earnings results on Thursday, August 7th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.07. The company had revenue of $141.60 million for the quarter, compared to the consensus estimate of $139.66 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. On average, analysts predict that Blucora will post $2.10 earnings per share for the current fiscal year.
Blucora, Inc, formerly InfoSpace, Inc, is a provider of online solutions for consumers and business partners.
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