Youdao (NYSE:DAO) Shares Gap Up – Here’s What Happened

Shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) gapped up before the market opened on Wednesday. The stock had previously closed at $15.63, but opened at $16.59. Youdao shares last traded at $16.5640, with a volume of 3,724 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DAO shares. Weiss Ratings raised Youdao from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. Wall Street Zen raised Youdao from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Citigroup boosted their price objective on shares of Youdao from $14.90 to $22.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

Youdao Stock Performance

The company has a market cap of $1.99 billion, a P/E ratio of 82.54 and a beta of 0.52. The company has a fifty day moving average price of $15.93 and a two-hundred day moving average price of $13.28.

Youdao (NYSE:DAO) last released its earnings results on Thursday, August 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Youdao had a negative return on equity of 8.46% and a net margin of 2.71%.The business had revenue of $215.91 million for the quarter, compared to the consensus estimate of $229.02 million.

Institutional Investors Weigh In On Youdao

An institutional investor recently bought a new stake in Youdao stock. Public Employees Retirement System of Ohio acquired a new stake in Youdao, Inc. Unsponsored ADR (NYSE:DAO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 28,104 shares of the company’s stock, valued at approximately $346,000. 21.91% of the stock is currently owned by institutional investors.

About Youdao

Youdao, Inc (NYSE: DAO) is a technology company focused on digital learning and knowledge services. It is a subsidiary of NetEase, Inc and develops internet-based tools that support language learning, education, translation and professional development.

The company offers online courses and learning applications covering subjects such as languages, academic preparation and professional skills. Its product portfolio has also included Youdao Dictionary, translation and writing tools, and smart learning hardware such as dictionary pens, scanning devices and other connected products designed to support students and educators.

Youdao primarily serves users in China through its online platforms, educational content and learning devices, while some of its language and translation products are available to users internationally.