CooTek (Cayman) (NYSE:CTK) Raised to Strong-Buy at Zacks Investment Research

CooTek (Cayman) (NYSE:CTK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm presently has a $6.25 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.62% from the company’s current price.

According to Zacks, “CooTek (Cayman) Inc. operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices. CooTek (Cayman) Inc. is based in Shanghai, the People’s Republic of China. “

A number of other research analysts have also weighed in on the company. Bank of America set a $6.60 target price on CooTek (Cayman) and gave the stock an “underperform” rating in a report on Wednesday, August 21st. KeyCorp boosted their target price on CooTek (Cayman) from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, ValuEngine lowered CooTek (Cayman) from a “buy” rating to a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. CooTek (Cayman) presently has a consensus rating of “Hold” and an average price target of $7.28.

Shares of CTK stock traded up $0.15 during trading on Friday, reaching $5.65. 65,100 shares of the company’s stock were exchanged, compared to its average volume of 77,797. CooTek has a twelve month low of $4.71 and a twelve month high of $13.30. The firm’s fifty day moving average price is $5.32 and its 200-day moving average price is $7.27.

CooTek (Cayman) (NYSE:CTK) last posted its earnings results on Monday, November 18th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. The business had revenue of $31.27 million for the quarter, compared to analyst estimates of $30.10 million. CooTek (Cayman) had a negative return on equity of 37.28% and a negative net margin of 16.75%. As a group, sell-side analysts predict that CooTek will post -0.68 EPS for the current fiscal year.

An institutional investor recently bought a new position in CooTek (Cayman) stock. Susquehanna International Group LLP acquired a new stake in CooTek (Cayman) Inc. (NYSE:CTK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 200,000 shares of the company’s stock, valued at approximately $1,917,000. Susquehanna International Group LLP owned approximately 0.31% of CooTek (Cayman) at the end of the most recent reporting period. 0.99% of the stock is currently owned by institutional investors and hedge funds.

CooTek (Cayman) Company Profile

CooTek (Cayman) Inc operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices that supports approximately 110 languages worldwide. The company was founded in 2008 and is based in Shanghai, the People's Republic of China.

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