Benchmark reaffirmed their buy rating on shares of Blucora (NASDAQ:BCOR) in a research note published on Friday morning. Benchmark currently has a $32.00 target price on the information services provider’s stock.
“We are raising our 2018 revenue forecast for Wealth Management by $10 million, but suspect that our new 6% growth forecast will still prove conservative. For Tax, the biggest question mark heading into the quarter was always going to be paid user trends. Despite the late start to tax season and what seemed to be some early inefficient spend, management confirmed their confidence in getting paid units back to flat growth, which is better than our 2% down forecast and most expectations. If that scenario plays out, we cannot envision a tax season for Blucora that doesn’t vastly exceed slightly upwardly-revised guidance as pricing is already up well ahead of last year thanks to industry movement. As a result, margins should also come in much better than expected for the year, although we are sticking with our “conservative” 9% revenue growth forecast for now while cutting our FY18 segment income by $3 million to reflect incremental marketing spend.”,” Benchmark’s analyst commented.
BCOR has been the subject of a number of other reports. ValuEngine upgraded shares of Blucora from a hold rating to a buy rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Blucora from a hold rating to a strong-buy rating and set a $25.00 price target for the company in a research report on Wednesday, November 1st. BidaskClub downgraded shares of Blucora from a hold rating to a sell rating in a research report on Thursday, January 25th. Finally, TheStreet downgraded shares of Blucora from a b- rating to a c rating in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $27.50.
Blucora (NASDAQ:BCOR) last released its quarterly earnings results on Thursday, February 15th. The information services provider reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.13. Blucora had a net margin of 5.31% and a return on equity of 11.22%. The company had revenue of $97.85 million during the quarter, compared to the consensus estimate of $91.99 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. sell-side analysts anticipate that Blucora will post 1.65 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its position in Blucora by 15,869.2% during the third quarter. Sei Investments Co. now owns 4,152 shares of the information services provider’s stock valued at $110,000 after purchasing an additional 4,126 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Blucora during the third quarter valued at approximately $124,000. US Bancorp DE raised its position in Blucora by 697.0% during the fourth quarter. US Bancorp DE now owns 8,185 shares of the information services provider’s stock valued at $181,000 after purchasing an additional 7,158 shares in the last quarter. Trexquant Investment LP acquired a new position in Blucora during the third quarter valued at approximately $201,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Blucora during the third quarter valued at approximately $204,000. Institutional investors and hedge funds own 94.43% of the company’s stock.
Blucora Company Profile
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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