Price Action Report: Today Inovalon Holdings Inc Stock Reaches All-Time Low

Price Action Report: Today Inovalon Holdings Inc Stock Reaches All Time Low

The stock of Inovalon Holdings Inc (NASDAQ:INOV) reached all time low today, Oct, 13 and still has $13.02 target or 7.00% below today’s $14.00 share price. This indicates more downside for the $2.15 billion company. This technical setup was reported by Barchart.com. If the $13.02 PT is reached, the company will be worth $150.50 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 262,440 shares traded hands. Inovalon Holdings Inc (NASDAQ:INOV) has declined 20.57% since March 10, 2016 and is downtrending. It has underperformed by 28.09% the S&P500.

Analysts await Inovalon Holdings Inc (NASDAQ:INOV) to report earnings on November, 2. They expect $0.04 earnings per share, down 50.00% or $0.04 from last year’s $0.08 per share. INOV’s profit will be $6.14M for 87.50 P/E if the $0.04 EPS becomes a reality. After $0.13 actual earnings per share reported by Inovalon Holdings Inc for the previous quarter, Wall Street now forecasts -69.23% negative EPS growth.

Inovalon Holdings Inc (NASDAQ:INOV) Ratings Coverage

Out of 10 analysts covering Inovalon Holdings Inc (NASDAQ:INOV), 3 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 30% are positive. Inovalon Holdings Inc has been the topic of 14 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was initiated by KeyBanc Capital Markets with “Overweight” on Tuesday, March 29. On Tuesday, August 25 the stock rating was maintained by William Blair with “Buy”. On Thursday, April 21 the stock rating was downgraded by Robert W. Baird to “Neutral”. The firm has “Overweight” rating by KeyBanc Capital Markets given on Tuesday, August 16. As per Tuesday, August 18, the company rating was upgraded by Goldman Sachs. The stock of Inovalon Holdings Inc (NASDAQ:INOV) earned “Market Perform” rating by William Blair on Thursday, August 4. Citigroup maintained Inovalon Holdings Inc (NASDAQ:INOV) on Thursday, August 4 with “Neutral” rating. The firm earned “Underweight” rating on Wednesday, March 30 by Morgan Stanley. The rating was initiated by Pacific Crest with “Overweight” on Tuesday, March 29. The firm has “Outperform” rating by Wells Fargo given on Friday, August 7.

According to Zacks Investment Research, “Inovalon Holdings, Inc. is a technology company which provides cloud-based data analytics and data-driven intervention platforms for healthcare sector. The company operates through IT and services group. IT operations group manages the process steps from data receipt through to the generation of analytical outputs and services operations group manages the process steps applied to achieve impact through its data-driven intervention platforms. It serves health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. Inovalon Holdings, Inc. is headquartered in Bowie, Maryland.”

More news for Inovalon Holdings Inc (NASDAQ:INOV) were recently published by: Prnewswire.com, which released: “Shareholder Class Action Filed Against Inovalon Holdings, Inc. – INOV” on July 08, 2016. Globenewswire.com‘s article titled: “STOCK ALERT: Rosen Law Firm Reminds Inovalon Holdings, Inc. Investors of …” and published on August 19, 2016 is yet another important article.

INOV Company Profile

Inovalon Holdings, Inc., incorporated on September 11, 2014, is a technology company. The Firm combines advanced cloud data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. The Firm operates through developing cloud data analytics and data-driven intervention platforms segment and provides related services to its clients. The Company’s datasets, integration technologies, predictive analytics and subject matter expertise allows the Company to provide platforms. The Company’s analytics platforms identify gaps in care, quality, data integrity and financial performance in its clients’ datasets.

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