Blucora, Inc. (BCOR) Stock Faces Lower Risks Forward After Forming Bullish Multiple Top Chart Pattern

July 14, 2018 - By Harriett Tippett

Blucora, Inc. (NASDAQ:BCOR) Logo

The stock of Blucora, Inc. (BCOR) shows a multiple tops pattern with $39.36 target or 4.00 % above today’s $37.85 share price. The 9 months chart pattern indicates low risk for the $1.78 billion company. It was reported on Jul, 14 by If the $39.36 price target is reached, the company will be worth $71.12M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.82% or $0.7 during the last trading session, reaching $37.85. About 170,226 shares traded. Blucora, Inc. (NASDAQ:BCOR) has risen 80.38% since July 14, 2017 and is uptrending. It has outperformed by 67.81% the S&P500.

Analysts await Blucora, Inc. (NASDAQ:BCOR) to report earnings on July, 26. They expect $0.76 earnings per share, up 13.43 % or $0.09 from last year’s $0.67 per share. BCOR’s profit will be $35.70 million for 12.45 P/E if the $0.76 EPS becomes a reality. After $1.20 actual earnings per share reported by Blucora, Inc. for the previous quarter, Wall Street now forecasts -36.67 % negative EPS growth.

Blucora, Inc. (NASDAQ:BCOR) Ratings Coverage

Among 4 analysts covering Blucora (NASDAQ:BCOR), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Blucora has $4700 highest and $3500 lowest target. $43’s average target is 13.61% above currents $37.85 stock price. Blucora had 6 analyst reports since March 20, 2018 according to SRatingsIntel. The rating was maintained by Barrington with “Buy” on Tuesday, May 15. The firm earned “Buy” rating on Thursday, June 7 by Craig Hallum. Craig Hallum maintained the shares of BCOR in report on Thursday, May 10 with “Buy” rating. William Blair initiated the stock with “Buy” rating in Tuesday, March 20 report.

Another recent and important Blucora, Inc. (NASDAQ:BCOR) news was published by which published an article titled: “Blucora Announces the Appointment of Carol Hayles and John MacIlwaine to the Board of Directors” on July 11, 2018.

Blucora, Inc. provides technology-enabled financial solutions to consumers, small business owners, and tax professionals in the United States. The company has market cap of $1.78 billion. The firm operates through two divisions, Wealth Management and Tax Preparation. It has a 43.56 P/E ratio. The Wealth Management segment offers an integrated platform of brokerage, investment advisory, and insurance services to financial advisors.

Blucora, Inc. (NASDAQ:BCOR) Institutional Positions Chart

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