Morgan Stanley Cuts Sharecare (NASDAQ:SHCR) Price Target to $1.00

Sharecare (NASDAQ:SHCR) had its price target decreased by Morgan Stanley from $1.50 to $1.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 49.23% from the stock’s current price.

Separately, BTIG Research cut Sharecare from a “buy” rating to a “neutral” rating in a research note on Monday, April 1st.

Sharecare Stock Down 6.0 %

Shares of SHCR stock opened at $0.67 on Monday. The stock has a market cap of $240.28 million, a price-to-earnings ratio of -1.81 and a beta of 0.26. The business’s fifty day moving average is $0.90 and its 200 day moving average is $0.99. Sharecare has a twelve month low of $0.48 and a twelve month high of $1.80.

Institutional Investors Weigh In On Sharecare

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Sharecare by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 16,962,031 shares of the company’s stock valued at $18,319,000 after buying an additional 373,505 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Sharecare during the fourth quarter valued at $76,000. Barclays PLC boosted its position in shares of Sharecare by 343.7% during the fourth quarter. Barclays PLC now owns 485,538 shares of the company’s stock valued at $524,000 after buying an additional 376,115 shares during the last quarter. Prelude Capital Management LLC bought a new position in Sharecare in the fourth quarter valued at about $49,000. Finally, Royal Bank of Canada lifted its holdings in Sharecare by 50.6% in the fourth quarter. Royal Bank of Canada now owns 140,560 shares of the company’s stock valued at $151,000 after acquiring an additional 47,223 shares during the period. 35.08% of the stock is owned by hedge funds and other institutional investors.

About Sharecare

Sharecare, Inc operates as a digital healthcare platform company. Its Sharecare platform connects people, patients, providers, employers, health plans, government organizations, and communities that optimize individual and population-wide well-being. The company offers enterprise solutions based on a software-as-a-service model that allows enterprise clients to message, motivate, and manage their populations, as well as measure their population progress; a suite of data and information-driven solutions; and life sciences solutions, which provides members with personalized information, programs, and resources to enhance their health and well-being.