Youdao (NYSE:DAO) Trading 2.9% Higher – Time to Buy?

Youdao, Inc. Unsponsored ADR (NYSE:DAO)’s share price traded up 2.9% during trading on Friday . The stock traded as high as $10.15 and last traded at $9.9950. 94,039 shares were traded during trading, a decline of 2% from the average session volume of 96,201 shares. The stock had previously closed at $9.71.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of Youdao from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Youdao in a research note on Monday, December 22nd. Finally, Citigroup raised shares of Youdao from a “hold” rating to a “buy” rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Youdao currently has an average rating of “Hold”.

Youdao Stock Up 2.9%

The stock has a market cap of $1.19 billion, a P/E ratio of 76.89 and a beta of 0.37. The firm’s 50 day simple moving average is $10.56 and its two-hundred day simple moving average is $10.01.

Youdao (NYSE:DAO) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Youdao had a net margin of 1.81% and a negative return on equity of 6.41%. The company had revenue of $223.64 million for the quarter, compared to the consensus estimate of $211.46 million.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Public Employees Retirement System of Ohio grew its stake in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,286 shares of the company’s stock after purchasing an additional 7,729 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 as of its most recent SEC filing. 21.91% of the stock is owned by institutional investors.

About Youdao

Youdao, Inc (NYSE: DAO), established in 2006 as a subsidiary of NetEase, is headquartered in Beijing, China. The company went public on the New York Stock Exchange in October 2019, marking a significant milestone in its development as an intelligent learning and knowledge service provider. Since its inception, Youdao has combined cloud computing, artificial intelligence and big data analytics to create an adaptive learning ecosystem designed to meet the needs of individual learners and organizations.

At the core of Youdao’s offerings is its suite of digital dictionaries and translation tools, including the flagship Youdao Dictionary app and translation engine.