Blucora Gets a Buy Rating from Benchmark Co.

In a report released today, Daniel Kurnos from Benchmark Co. maintained a Buy rating on Blucora (NASDAQ: BCOR), with a price target of $42. The company’s shares closed yesterday at $31.10, close to its 52-week high of $31.60.

Kurnos observed:

“Wealth Management also logged a strong quarter, with a record $625 million net AUA inflow, leading to results ahead of consensus and the high-end of guidance as well. It’s hard to say anything other than CEO John Clendening has rapidly righted the ship since joining the with further upside evident via what appears to be a sustainable paid unit growth strategy while maintaining a healthy pricing advantage in Tax, and early signs of organic Wealth Management efficiency gains excluding what could be material benefits from the clearing house switch expected in 3Q/4Q18.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 10.2% and a 52.3% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.

Blucora has an analyst consensus of Strong Buy, with a price target consensus of $36.

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Based on Blucora’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $45.34 million. In comparison, last year the company had a net profit of $30.58 million.

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Blucora, Inc. engages in the provision of technology-enabled financial solutions to consumers, small businesses, and tax professionals. It operates through the Wealth Management and Tax Preparation segments.