Youdao (NYSE:DAO) Shares Up 6.1% – Here’s What Happened

Youdao, Inc. Unsponsored ADR (NYSE:DAO)’s stock price traded up 6.1% during mid-day trading on Tuesday. The stock traded as high as $15.81 and last traded at $16.0750. 771 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 81,315 shares. The stock had previously closed at $15.15.

Wall Street Analysts Forecast Growth

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

Youdao Price Performance

The company’s 50-day moving average is $15.91 and its 200-day moving average is $13.23. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 79.88 and a beta of 0.52.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Youdao stock. NetEase Inc. bought a new stake in Youdao, Inc. Unsponsored ADR (NYSE:DAO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,898,293 shares of the company’s stock, valued at approximately $35,649,004. Youdao comprises about 0.0% of NetEase Inc.’s portfolio, making the stock its 2nd biggest holding. NetEase Inc. owned 2.41% of Youdao as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 21.91% of the company’s stock.

Youdao Company Profile

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.