Cheetah Mobile Inc (NASDAQ:CMCM) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Cheetah Mobile Inc (NASDAQ:CMCM) from a buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Cheetah Mobile Inc. engages in developing Internet security software. The Company operates a platform that offers mission critical applications for its users and global content distribution channels. Its mission critical applications include Clean Master; Battery Doctor; Duba Anti-virus; Cheetah Browser; Photo Grid and Antutu Benchmark. Cheetah Mobile Inc. is headquartered in Beijing, the People’s Republic of China. “
Separately, TheStreet raised Cheetah Mobile from a d+ rating to a c- rating in a report on Monday, May 22nd.
Cheetah Mobile (CMCM) traded up 0.91% during midday trading on Tuesday, reaching $11.13. The company’s stock had a trading volume of 415,457 shares. Cheetah Mobile has a 12-month low of $8.91 and a 12-month high of $13.79. The stock’s market cap is $1.54 billion. The stock’s 50 day moving average is $10.87 and its 200 day moving average is $10.76.
Cheetah Mobile (NASDAQ:CMCM) last released its earnings results on Monday, May 22nd. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.12. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Cheetah Mobile had a return on equity of 8.08% and a net margin of 5.34%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Analysts anticipate that Cheetah Mobile will post $0.38 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMCM. FMR LLC bought a new position in Cheetah Mobile during the first quarter worth about $232,000. Alliancebernstein L.P. raised its position in Cheetah Mobile by 6.3% in the first quarter. Alliancebernstein L.P. now owns 73,230 shares of the software maker’s stock worth $786,000 after buying an additional 4,360 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Cheetah Mobile during the first quarter worth about $231,000. Schroder Investment Management Group raised its position in Cheetah Mobile by 115.6% in the first quarter. Schroder Investment Management Group now owns 68,866 shares of the software maker’s stock worth $716,000 after buying an additional 36,923 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in Cheetah Mobile by 122.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,477,900 shares of the software maker’s stock worth $15,873,000 after buying an additional 812,300 shares during the last quarter.
Cheetah Mobile Company Profile
Cheetah Mobile Inc is a holding company. The Company and its consolidated subsidiaries, variable interest entities (VIEs) and a VIE’s subsidiary are engaged in the provision of online marketing services, Internet value-added services, and Internet security services and others. The Company operates a platform that offers mobile and personal computer (PC) applications for its users and global content promotional channels for its customers, both of which are powered by its cloud-based data analytics engines.
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