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 Thursday. The stock had previously closed at $19.40, but opened at $20.00. Youdao shares last traded at $19.5650, with a volume of 2,636 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Youdao from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Citigroup upped their price target on Youdao from $14.90 to $22.00 and gave the company a “buy” rating in a report on Monday, August 24th. Finally, Weiss Ratings raised shares of Youdao from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Youdao Price Performance

The stock has a market cap of $2.32 billion, a P/E ratio of 96.34 and a beta of 0.48. The business’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $13.44.

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

Institutional Trading of Youdao

Institutional investors have recently bought and sold shares of the stock. NetEase Inc. bought a new stake in Youdao in the second quarter valued at $35,649,004. Public Employees Retirement System of Ohio acquired a new position in Youdao during the second quarter worth $346,000. Finally, State Street Corp acquired a new position in Youdao during the third quarter worth $176,000. Institutional investors and hedge funds own 21.91% of the company’s stock.

About Youdao

Youdao, Inc. is a China-based technology company focused on learning products and services. It offers digital learning content and services, including online courses, language-learning tools and educational resources. The company’s products include Youdao Dictionary and translation tools, as well as smart learning devices such as translation pens. Youdao also provides online marketing services. Youdao originated as an internet service developed by NetEase, with its dictionary product introduced in 2007.