Blucora, Inc. (BCOR) Formed Bullish Multiple Top Chart Pattern; Buyers Could Thrive

July 14, 2018 - By Andrea Bass

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 EPS, up 13.43 % or $0.09 from last year’s $0.67 per share. BCOR’s profit will be $35.70M for 12.45 P/E if the $0.76 EPS becomes a reality. After $1.20 actual EPS 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 stock of Blucora, Inc. (NASDAQ:BCOR) has “Buy” rating given on Thursday, May 10 by Craig Hallum. On Tuesday, May 15 the stock rating was maintained by Barrington with “Buy”. The stock of Blucora, Inc. (NASDAQ:BCOR) has “Buy” rating given on Thursday, June 7 by Craig Hallum. The company was initiated on Tuesday, March 20 by William Blair.

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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