Blucora, Inc. (BCOR) Rating Increased to Strong-Buy at Zacks Investment Research
Blucora, Inc. (NASDAQ:BCOR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage presently has a $25.00 price target on the information services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 15.21% from the company’s current price.
According to Zacks, “Blucora, Inc. is engaged in providing internet-based solutions for consumers and business partners. It owns and operates two Internet businesses. Blucora’s InfoSpace business provides online search and monetization solutions. The Company’s TaxACT business provides online tax preparation solutions to consumers and professional preparers. Blucora, Inc., formerly known as InfoSpace, Inc., is headquartered in Bellevue, Washington. “
A number of other analysts have also recently weighed in on BCOR. ValuEngine cut Blucora from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Barrington Research increased their price target on Blucora from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. BidaskClub upgraded Blucora from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Finally, TheStreet cut Blucora from a “b-” rating to a “c” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.25.
Blucora (NASDAQ:BCOR) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. The business had revenue of $90.20 million for the quarter, compared to analysts’ expectations of $89.72 million. Blucora had a positive return on equity of 11.94% and a negative net margin of 0.46%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of BCOR. Robeco Institutional Asset Management B.V. acquired a new stake in Blucora in the 3rd quarter valued at approximately $124,000. State of Alaska Department of Revenue increased its position in Blucora by 82.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,809 shares of the information services provider’s stock valued at $165,000 after acquiring an additional 3,539 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Blucora in the 2nd quarter valued at approximately $179,000. Municipal Employees Retirement System of Michigan increased its position in Blucora by 7.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,340 shares of the information services provider’s stock valued at $198,000 after acquiring an additional 620 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in Blucora in the 3rd quarter valued at approximately $204,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.
Blucora, Inc is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through the Wealth Management and Tax Preparation segments. The Company’s Wealth Management segment consists of HD Vest, which provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients The Company’s Tax Preparation segment provides digital do-it-yourself (DDIY) tax preparation solutions for consumers, small business owners and tax professionals.
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