Blucora’s (BCOR) Buy Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Blucora (NASDAQ:BCOR) in a research report released on Friday, February 16th. They currently have a $32.00 price target 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.”,” the firm’s analyst commented.

Other analysts have also issued research reports about the company. ValuEngine raised Blucora from a hold rating to a buy rating in a report on Sunday, December 31st. TheStreet lowered Blucora from a b- rating to a c rating in a research note on Monday, October 30th. Zacks Investment Research lowered Blucora from a buy rating to a hold rating in a research note on Tuesday, December 26th. Finally, BidaskClub upgraded Blucora from a sell rating to a hold rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $27.50.

Blucora (NASDAQ BCOR) traded down $0.05 during trading on Friday, hitting $24.70. The stock had a trading volume of 279,642 shares, compared to its average volume of 383,241. Blucora has a twelve month low of $15.83 and a twelve month high of $26.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market capitalization of $1,167.76, a PE ratio of 42.59, a PEG ratio of 0.81 and a beta of -0.10.

Blucora (NASDAQ:BCOR) last released its quarterly earnings data on Thursday, February 15th. The information services provider reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. The firm had revenue of $97.85 million during the quarter, compared to analysts’ expectations of $91.99 million. Blucora had a return on equity of 11.22% and a net margin of 5.31%. Blucora’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) earnings per share. sell-side analysts expect that Blucora will post 1.54 EPS for the current fiscal year.

In other news, CMO Mathieu Frederic Stevenson sold 33,572 shares of Blucora stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $24.03, for a total value of $806,735.16. Following the completion of the transaction, the chief marketing officer now owns 58,882 shares in the company, valued at approximately $1,414,934.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John S. Clendening sold 35,150 shares of Blucora stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $24.46, for a total value of $859,769.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,272 shares of company stock worth $4,273,842. Company insiders own 14.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BCOR. Vanguard Group Inc. raised its stake in Blucora by 28.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,629,622 shares of the information services provider’s stock valued at $98,148,000 after acquiring an additional 1,013,363 shares in the last quarter. Park West Asset Management LLC raised its stake in Blucora by 57.1% during the 4th quarter. Park West Asset Management LLC now owns 1,490,500 shares of the information services provider’s stock valued at $32,940,000 after acquiring an additional 541,900 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Blucora by 28.4% in the 4th quarter. First Trust Advisors LP now owns 2,354,491 shares of the information services provider’s stock worth $52,034,000 after buying an additional 520,957 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Blucora in the 4th quarter worth $8,486,000. Finally, BlackRock Inc. raised its stake in shares of Blucora by 4.8% in the 4th quarter. BlackRock Inc. now owns 5,826,130 shares of the information services provider’s stock worth $128,756,000 after buying an additional 268,791 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

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About Blucora

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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