Youdao, Inc. (NYSE:DAO) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.72.
A number of equities research analysts have issued reports on DAO shares. HSBC downgraded Youdao from a “buy” rating to a “hold” rating and decreased their price objective for the company from $35.00 to $25.00 in a research report on Tuesday, June 29th. Citigroup downgraded Youdao from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $38.00 to $7.17 in a report on Tuesday, July 27th. Zacks Investment Research raised Youdao from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, October 6th. Daiwa Capital Markets raised Youdao from an “underperform” rating to a “neutral” rating and set a $13.50 price objective on the stock in a research note on Friday, September 3rd. Finally, Morgan Stanley cut Youdao from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $29.00 to $11.40 in a research note on Monday, August 30th.
DAO stock traded down $1.19 during midday trading on Friday, reaching $12.21. 8,620 shares of the company traded hands, compared to its average volume of 357,866. Youdao has a 52-week low of $7.02 and a 52-week high of $42.17. The business has a 50 day moving average of $11.83 and a 200-day moving average of $18.64. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.38 and a beta of -0.52.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in Youdao by 900.0% during the 1st quarter. Royal Bank of Canada now owns 2,000 shares of the company’s stock valued at $48,000 after acquiring an additional 1,800 shares in the last quarter. Citigroup Inc. bought a new stake in Youdao during the 1st quarter valued at $65,000. Jane Street Group LLC boosted its position in Youdao by 43.2% during the 1st quarter. Jane Street Group LLC now owns 11,351 shares of the company’s stock valued at $270,000 after acquiring an additional 3,423 shares in the last quarter. Millennium Management LLC boosted its position in Youdao by 8.8% during the 2nd quarter. Millennium Management LLC now owns 54,984 shares of the company’s stock valued at $1,270,000 after acquiring an additional 4,460 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Youdao by 53.0% during the 1st quarter. Vontobel Holding Ltd. now owns 15,300 shares of the company’s stock valued at $364,000 after acquiring an additional 5,300 shares in the last quarter. 19.56% of the stock is currently owned by institutional investors and hedge funds.
Youdao, Inc, an internet technology company, provides online services in content, community, communication, and commerce in China. The company provides various learning content, applications, and solutions, which covers topics and targets people from various age groups for their learning needs through its websites and mobile applications; Youdao Dictionary with range of products and services addressing lifelong learning needs of pre-school, K-12 and college students as well as adult learners; and other online dictionary and translation tools comprising Youdao Translation, U-Dictionary, and Youdao Kids' Dictionary.
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