What’s Ahead for Inovalon Holdings, Inc. (INOV) After Touching Yearly Low?

March 14, 2018 - By Richard Conner

The stock of Inovalon Holdings, Inc. (NASDAQ:INOV) hit a new 52-week low and has $10.26 target or 9.00 % below today’s $11.28 share price. The 5 months bearish chart indicates high risk for the $1.63 billion company. The 1-year low was reported on Mar, 14 by Barchart.com. If the $10.26 price target is reached, the company will be worth $146.52M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 5.25% or $0.625 during the last trading session, reaching $11.275. About 664,770 shares traded or 6.09% up from the average. Inovalon Holdings, Inc. (NASDAQ:INOV) has declined 28.38% since March 14, 2017 and is downtrending. It has underperformed by 45.08% the S&P500.

Analysts await Inovalon Holdings, Inc. (NASDAQ:INOV) to report earnings on May, 2. They expect $0.03 earnings per share, down 40.00 % or $0.02 from last year’s $0.05 per share. INOV’s profit will be $4.33 million for 93.96 P/E if the $0.03 EPS becomes a reality. After $0.04 actual earnings per share reported by Inovalon Holdings, Inc. for the previous quarter, Wall Street now forecasts -25.00 % negative EPS growth.

Inovalon Holdings, Inc. (NASDAQ:INOV) Ratings Coverage

Among 11 analysts covering Inovalon Holdings Inc (NASDAQ:INOV), 1 have Buy rating, 2 Sell and 8 Hold. Therefore 9% are positive. Inovalon Holdings Inc had 24 analyst reports since August 6, 2015 according to SRatingsIntel. As per Thursday, April 21, the company rating was downgraded by Robert W. Baird. The rating was maintained by Piper Jaffray on Wednesday, February 21 with “Sell”. First Analysis initiated Inovalon Holdings, Inc. (NASDAQ:INOV) rating on Tuesday, October 25. First Analysis has “Equal-Weight” rating and $14 target. The stock of Inovalon Holdings, Inc. (NASDAQ:INOV) has “Overweight” rating given on Tuesday, March 29 by KeyBanc Capital Markets. The stock has “Americas Conviction List” rating by Goldman Sachs on Tuesday, August 18. The firm earned “Equal-Weight” rating on Tuesday, September 12 by Morgan Stanley. The firm has “Hold” rating given on Monday, October 16 by KeyBanc Capital Markets. As per Thursday, August 4, the company rating was downgraded by William Blair. KeyBanc Capital Markets maintained the stock with “Hold” rating in Tuesday, September 12 report. As per Tuesday, August 25, the company rating was maintained by William Blair.

More news for Inovalon Holdings, Inc. (NASDAQ:INOV) were recently published by: Reuters.com, which released: “Inovalon to buy info tech firm Ability Network for $1.2 bln” on March 07, 2018. Bizjournals.com‘s article titled: “Health IT firm Ability Network to be sold for $1.2B” and published on March 07, 2018 is yet another important article.

Inovalon Holdings, Inc., a technology company, provides cloud platforms empowering a data-driven transformation from volume to value models in the healthcare industry. The company has market cap of $1.63 billion. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance. It has a 47.37 P/E ratio. It serves health plans and well-known provider organizations, as well as pharmaceutical, medical device, and diagnostics companies.

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