Youdao (NYSE:DAO) Given New $7.80 Price Target at Citigroup

Youdao (NYSE:DAOGet Rating) had its target price trimmed by Citigroup from $15.50 to $7.80 in a research report sent to investors on Friday, The Fly reports. The firm currently has a maintains rating on the stock.

Youdao Price Performance

DAO opened at $4.05 on Friday. The company has a market capitalization of $510.17 million, a price-to-earnings ratio of -4.18 and a beta of -0.55. Youdao has a 1-year low of $4.05 and a 1-year high of $17.77. The business has a 50 day moving average price of $4.96 and a two-hundred day moving average price of $7.73.

Youdao (NYSE:DAOGet Rating) last released its earnings results on Tuesday, May 24th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The firm had revenue of $189.38 million during the quarter, compared to analyst estimates of $169.50 million. During the same quarter last year, the company earned ($0.42) earnings per share.

Institutional Trading of Youdao

Hedge funds have recently modified their holdings of the business. Legacy Wealth Asset Management LLC acquired a new position in Youdao during the second quarter worth $54,000. Bank of America Corp DE increased its holdings in shares of Youdao by 460.5% during the first quarter. Bank of America Corp DE now owns 43,455 shares of the company’s stock worth $309,000 after buying an additional 35,702 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Youdao during the first quarter worth approximately $87,000. State Street Corp increased its holdings in shares of Youdao by 3.1% in the first quarter. State Street Corp now owns 219,217 shares of the company’s stock valued at $1,556,000 after purchasing an additional 6,552 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Youdao in the first quarter valued at approximately $124,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Youdao Company Profile

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Youdao, Inc, an internet technology company, provides online services in the field of content, community, communication, and commerce in China. It operates through three segments: Learning Services, Smart Devices, and Online Marketing Services. The company provides various learning content, applications, and solutions, which cover topics and target people from various age groups for their learning needs through its websites and mobile applications.

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