Zacks Investment Research upgraded shares of DouYu International (NASDAQ:DOYU) from a hold rating to a buy rating in a report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $3.75 price objective on the stock.
According to Zacks, “DouYu International Holdings Limited provides a game-centric live streaming platform primarily in China. The company operates its platform on both PC and mobile apps. DouYu International Holdings Limited is headquartered in Wuhan, China. “
Separately, Citigroup initiated coverage on shares of DouYu International in a report on Wednesday, August 18th. They issued a buy rating for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $11.97.
DouYu International (NASDAQ:DOYU) last announced its quarterly earnings results on Sunday, August 15th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.01). DouYu International had a negative return on equity of 4.69% and a negative net margin of 3.53%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the business earned $1.07 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts forecast that DouYu International will post -0.25 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of DOYU. Rockefeller Capital Management L.P. acquired a new position in shares of DouYu International in the first quarter worth $28,000. Resolute Partners Group grew its stake in shares of DouYu International by 104.2% in the first quarter. Resolute Partners Group now owns 13,340 shares of the company’s stock worth $68,000 after acquiring an additional 6,806 shares in the last quarter. Ingalls & Snyder LLC acquired a new position in shares of DouYu International in the second quarter worth $68,000. Invesco Ltd. acquired a new position in shares of DouYu International in the second quarter worth $97,000. Finally, Wells Fargo & Company MN grew its stake in shares of DouYu International by 1,346.1% in the second quarter. Wells Fargo & Company MN now owns 19,277 shares of the company’s stock worth $132,000 after acquiring an additional 17,944 shares in the last quarter. Institutional investors and hedge funds own 28.74% of the company’s stock.
DouYu International Company Profile
DouYu International Holdings Ltd. develops and operates game-centric live streaming platform in China, both on personal computer and mobile apps. The company was founded by Shaojie Chen and Wenming Zhang on April 3, 2014 and is headquartered in Wuhan, China.
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