The stock of Blackhawk Network Holdings Inc (NASDAQ:HAWK) gapped up by $1.09 today and has $51.45 target or 51.00% above today’s $34.07 share price. The 9 months technical chart setup indicates low risk for the $1.90 billion company. The gap was reported on Oct, 12 by Barchart.com. If the $51.45 price target is reached, the company will be worth $969.00M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 2.68 million shares traded hands or 263.54% up from the average. Blackhawk Network Holdings Inc (NASDAQ:HAWK) has declined 6.09% since March 9, 2016 and is downtrending. It has underperformed by 13.50% the S&P500.
Blackhawk Network Holdings Inc (NASDAQ:HAWK) Ratings Coverage
Out of 9 analysts covering Blackhawk Network Holdings (NASDAQ:HAWK), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. Blackhawk Network Holdings has been the topic of 12 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained Blackhawk Network Holdings Inc (NASDAQ:HAWK) on Friday, December 11 with “Buy” rating. The stock has “Neutral” rating given by Wedbush on Thursday, April 28. The firm earned “Buy” rating on Wednesday, July 29 by Argus Research. The stock has “Outperform” rating given by Credit Suisse on Friday, December 11. The company was maintained on Thursday, February 25 by Wedbush. The firm has “Outperform” rating by CLSA given on Wednesday, September 21. The rating was downgraded by Bank of America to “Neutral” on Friday, October 7. The rating was maintained by Deutsche Bank with “Buy” on Thursday, February 25. The stock has “Overweight” rating given by First Analysis on Tuesday, December 1. The firm has “Buy” rating by Bank of America given on Friday, July 22.
According to Zacks Investment Research, “Blackhawk Network Holdings, Inc. is a provider of prepaid and financial payments products for consumers and businesses. The company distributes gift cards, prepaid handsets and prepaid financial services products. Blackhawk Network Holdings, Inc. is headquartered in Pleasanton, California.”
More notable recent Blackhawk Network Holdings Inc (NASDAQ:HAWK) news were published by: Investorplace.com which released: “3 Stocks to Watch on Wednesday: Barracuda Networks Inc (CUDA), Blackhawk …” on October 12, 2016, also Nasdaq.com with their article: “Earnings Reaction History: Blackhawk Network Holdings, Inc., 66.7% Follow …” published on October 11, 2016, Globenewswire.com published: “Blackhawk Network Holdings, Inc. Announces Dates For Third Quarter 2016 …” on September 28, 2016. More interesting news about Blackhawk Network Holdings Inc (NASDAQ:HAWK) were released by: Prnewswire.com and their article: “Blackhawk Network Completes Acquisition of Grass Roots Group” published on October 06, 2016 as well as Benzinga.com‘s news article titled: “Keep an Eye on These 5 Stocks for October 12, 2016” with publication date: October 12, 2016.
HAWK Company Profile
Blackhawk Network Holdings, Inc., incorporated on January 27, 2006, is a prepaid payment network. The Firm offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s divisions are US Retail, International Retail and Incentives & Rewards. The US Retail segment consists of the various operating divisions of the United States retail products, third-party online distribution channel and secondary card market and is engaged in sales of prepaid products to clients through these channels. The International Retail segment consists of the various operating divisions of its geographic regions and is engaged in sales of prepaid products to clients at its international retail distribution partners. The Incentives & Rewards segment consists of the various operating divisions, which offer prepaid cards, other products and related services to business clients for their consumer incentive and employee reward programs.
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