Canaccord Genuity Group Reiterates Buy Rating for Sharecare (NASDAQ:SHCR)

Sharecare (NASDAQ:SHCR)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity Group in a report issued on Tuesday, Benzinga reports. They presently have a $2.00 target price on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 132.10% from the company’s previous close.

A number of other brokerages also recently weighed in on SHCR. Morgan Stanley decreased their price target on Sharecare from $1.50 to $1.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. BTIG Research cut Sharecare from a “buy” rating to a “neutral” rating in a research note on Monday, April 1st.

Sharecare Trading Up 1.1 %

NASDAQ SHCR opened at $0.86 on Tuesday. The firm has a market capitalization of $312.29 million, a PE ratio of -2.33 and a beta of 0.26. The business’s 50-day moving average price is $0.77 and its two-hundred day moving average price is $0.93. Sharecare has a 12 month low of $0.48 and a 12 month high of $1.80.

Sharecare (NASDAQ:SHCR) last announced its earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $90.86 million during the quarter, compared to the consensus estimate of $103.80 million. Sharecare had a negative net margin of 30.71% and a negative return on equity of 19.78%. During the same quarter in the previous year, the company earned ($0.06) earnings per share. As a group, analysts forecast that Sharecare will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sharecare

Large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of Sharecare during the 3rd quarter worth about $865,000. Pathstone Family Office LLC acquired a new stake in Sharecare in the third quarter valued at approximately $64,000. Swiss National Bank increased its holdings in shares of Sharecare by 7.6% during the third quarter. Swiss National Bank now owns 667,733 shares of the company’s stock valued at $628,000 after acquiring an additional 47,200 shares in the last quarter. WealthPlan Investment Management LLC increased its holdings in shares of Sharecare by 1,307,971.1% during the third quarter. WealthPlan Investment Management LLC now owns 1,177,264 shares of the company’s stock valued at $1,107,000 after acquiring an additional 1,177,174 shares in the last quarter. Finally, Private Management Group Inc. bought a new position in shares of Sharecare in the 4th quarter worth $4,410,000. 35.08% of the stock is currently owned by institutional investors and hedge funds.

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 improve their health and well-being.