Blucora, Inc. (NASDAQ:BCOR) Raised 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, November 1st. The firm presently has a $25.00 price target on the information services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 22.85% from the stock’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 brokerages have also recently issued reports on BCOR. TheStreet cut shares of Blucora from a “b-” rating to a “c” rating in a research note on Monday, October 30th. Barrington Research raised their target price on shares of Blucora from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. BidaskClub raised shares of Blucora from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, ValuEngine cut shares of Blucora from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two equities research 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.00.

Blucora (NASDAQ:BCOR) opened at $20.35 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.23 and a quick ratio of 2.23. Blucora has a 52-week low of $13.40 and a 52-week high of $26.15. The firm has a market cap of $920.21, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.88 and a beta of -0.27.

Blucora (NASDAQ:BCOR) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.07. The business had revenue of $90.20 million for the quarter, compared to the consensus estimate of $89.72 million. Blucora had a negative net margin of 0.46% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned ($0.24) earnings per share. sell-side analysts predict that Blucora will post 1.14 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Blucora by 15,869.2% in the 3rd quarter. Sei Investments Co. now owns 4,152 shares of the information services provider’s stock worth $110,000 after acquiring an additional 4,126 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Blucora in the 3rd quarter worth about $124,000. State of Alaska Department of Revenue lifted its holdings in shares of 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 worth $165,000 after acquiring an additional 3,539 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Blucora in the 3rd quarter worth about $201,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Blucora in the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 87.33% 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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