Blucora, Inc. (NASDAQ:BCOR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage presently has a $25.00 target price on the information services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 17.65% from the company’s previous close.
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. “
Several other analysts also recently weighed in on the stock. TheStreet downgraded shares of Blucora from a “b-” rating to a “c” rating in a research report on Monday. BidaskClub raised shares of Blucora from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Barrington Research boosted their target price on shares of Blucora from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Finally, ValuEngine downgraded shares of Blucora from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $25.25.
Blucora (NASDAQ:BCOR) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Blucora had a negative net margin of 0.46% and a positive return on equity of 11.94%. The firm had revenue of $90.20 million for the quarter, compared to the consensus estimate of $89.72 million. During the same quarter in the previous year, the firm earned ($0.24) EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.
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A number of large investors have recently added to or reduced their stakes in BCOR. UBS Asset Management Americas Inc. grew its position in Blucora by 43.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 18,499 shares of the information services provider’s stock worth $320,000 after purchasing an additional 5,600 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Blucora during the 1st quarter worth approximately $227,000. Parametric Portfolio Associates LLC grew its position in Blucora by 7.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 138,872 shares of the information services provider’s stock worth $2,402,000 after purchasing an additional 9,875 shares during the last quarter. Arizona State Retirement System lifted its stake in Blucora by 2.5% during the 1st quarter. Arizona State Retirement System now owns 20,217 shares of the information services provider’s stock valued at $350,000 after acquiring an additional 500 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in Blucora by 42.2% during the 1st quarter. OppenheimerFunds Inc. now owns 21,755 shares of the information services provider’s stock valued at $376,000 after acquiring an additional 6,455 shares during the period. 90.39% of the stock is currently owned by institutional investors.
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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