Sharecare Inc. (NASDAQ: SHCR): Analyst View Points To Future Growth

BlackRock Fund Advisors has recently announced that it has increased stake in Sharecare Inc. (NASDAQ:SHCR) by 9.94%. After grabbing 20.77 million shares, the institutional investor is now in possession of 1.88 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.81% having worth around $28.87 million. Moreover, The Vanguard Group, Inc. increased its share by 1.05 million to have a control over 15.82 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.2 million shares by acquiring 6.71 million shares or 1.88% of the stake.

Sharecare Inc. (SHCR) concluded trading on 09/13/23 at a closing price of $0.97, with 3.12 million shares of worth about $3.03 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -58.21% during that period and on Wednesday the price saw a gain of about 6.27%. Currently the company’s common shares owned by public are about 354.05M shares, out of which, 287.19M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the SHCR stock and their offered price forecasts bring an average price target of $3.19. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $2.00. The stock’s current price level is 69.59% above of average price target set by the analysts, while a rise to estimated low would result in gain of 51.5% for the stock. However, touching the estimated high of $5.00 would mean a gain of 80.6% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 34 times over the past 12 months. They bought 1,879,953 shares in 23 of the transactions. In 11 selling transactions, insiders dumped 230,350 shares.

Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Sharecare Inc. Vanguard Total Stock Market ETF is currently holding 8.87 million shares of worth totaling $12.33 million. The company recently came buying 0.0 shares which brought its stake up to 2.48% of the company’s outstanding shares. iShares Russell 2000 ETF bought 36510.0 shares, after which its hold over company’s outstanding shares expand to 1.97%, leaving 7.05 million shares with the mutual fund that have a worth of about $9.8 million. Vanguard Extended Market Index Fu, after buying 4.46 million shares, have now control over 1.25% of the stake in the company. It holds 10055.0 shares of worth $6.2 million.

However, the stock later moved at a day high price of 0.9899, or with a gain of 6.27%. Stock saw a price change of 11.18% in past 5 days and over the past one month there was a price change of -16.41%. Year-to-date (YTD), SHCR shares are showing a performance of -39.40% which decreased to -51.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.77 but also hit the highest price of $2.71 during that period. The average intraday trading volume for Sharecare Inc. shares is 1.95 million. The stock is currently trading 3.51% above its 20-day simple moving average (SMA20), while that difference is down -23.02% for SMA50 and it goes to -44.59% lower than SMA200.

BlackRock Fund Advisors acquired 20.77 million shares of Sharecare Inc. having value of about $28.87 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 1.88 million shares in the company valued at close to $1821395.19, or have control over 9.94% stake in the company. Sharecare Inc. (NASDAQ: SHCR) currently have 354.05M outstanding shares and institutions hold larger chunk of about 45.20% of that. Holding of mutual funds in the company is about 17.36% while other institutional holders and individual stake holders have control over 23.42% and 14.64% of the stake respectively.

The stock has a current market capitalization of $342.37M and its 3Y-monthly beta is at 0.46. It has posted earnings per share of -$0.34 in the same period. It has Quick Ratio of 2.50 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SHCR, volatility over the week remained 7.89% while standing at 8.33% over the month.

Analysts are in expectations that Sharecare Inc. (SHCR) stock would likely to be making an EPS of -$0.07 in the current quarter, while forecast for next quarter EPS is -$0.06 and it is -$0.22 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.09 which is -$0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.08 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.70% while it is estimated to increase by 33.30% in next year.

Analysts at 4 brokerage firms have issued recommendations for the Sharecare Inc. (SHCR)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 4 Wall Street analysts, 3 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on July 20, 2022 offering an Equal-weight rating for the stock and assigned a target price of $2.50 to it.