Inovalon Holdings Inc. (NASDAQ:INOV) price on Friday, August 27, fall -0.32% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $40.46.
A look at the stock’s price movement, the level at last check in today’s session was $40.59, moving within a range at $40.195 and $40.85. The beta value (5-Year monthly) was 0.58 while the PE ratio in trailing twelve months stood at 153.17. Turning to its 52-week performance, $40.85 and $17.56 were the 52-week high and 52-week low respectively. Overall, INOV moved 10.30% over the past month.
Inovalon Holdings Inc.’s market cap currently stands at around $6.37 billion, with investors looking forward to this quarter’s earnings report slated for Oct 26, 2021 – Nov 01, 2021. Analysts project the company’s earnings per share (EPS) to be $0.19, which has seen fiscal year 2021 EPS growth forecast to increase to $0.75 and about $0.93 for fiscal year 2022. Per the data, EPS growth is expected to be 21.00% for 2021 and 24.00% for the next financial year.
Analysts have a consensus estimate of $194.92 million for the company’s revenue for the quarter, with a low and high estimate of $192.7 million and $197.3 million respectively. The average forecast suggests up to a 8.50% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $772.99 million, representing a 15.80% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that INOV is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 1 recommend INOV as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 5.89, with INOV’s current price about 4.56% and 13.72% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.69, while 7-day volatility ratio is 0.90% and 2.47% in the 30-day chart. Further, Inovalon Holdings Inc. (INOV) has a beta value of 0.57, and an average true range (ATR) of 1.06. Analysts have given the company’s stock an average 52-week price target of $41.00, forecast between a low of $41.00 and high of $41.00. Looking at the price targets, the low is -1.33% off recent price level in today’s trading while to achieve the yearly target high, it has to move -1.33%. Nonetheless, investors will most likely welcome a -1.33% jump to $41.00 which is the analysts’ median price.
In the market, a comparison of Inovalon Holdings Inc. (INOV) and its peers suggest the former has performed considerably weaker. Data shows INOV’s intraday price has changed -0.32% today and 67.24% over the past year. Looking at another peer, we see that Fiserv Inc. (FISV) price has gained 0.35% on the day. However, the stock is 19.88% off its price today a year ago. Moreover, Marchex Inc. (MCHX) is also down -3.22% in today’s trading while keeping a an uptrend of 72.78% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.90% and 0.73% respectively on the day as seen in early trades.
If we refocus on Inovalon Holdings Inc. (NASDAQ:INOV), historical trading data shows that trading volumes averaged 729.66K over the past 3 months. The company’s latest data on shares outstanding shows there are 150.69 million shares.
The 2.10% of Inovalon Holdings Inc.’s shares are in the hands of company insiders while institutional holders own 72.40% of the company’s shares. Current price change has pushed the stock 123.39% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the INOV stock continues to rise going into the next quarter.