GSX Techedu (NYSE:GSX) Stock Rating Upgraded by Zacks Investment Research

GSX Techedu (NYSE:GSX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $17.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential downside of 14.66% from the stock’s previous close.

According to Zacks, “GSX Techedu Inc. is a technology-driven education company. It offers K-12 courses covering all primary and secondary grades as well as foreign language, professional and interest courses. GSX Techedu Inc. is based in Beijing, China. “

A number of other research firms have also issued reports on GSX. Barclays reaffirmed a “buy” rating and issued a $20.00 target price on shares of GSX Techedu in a research note on Thursday, November 7th. ValuEngine lowered GSX Techedu from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Bank of America began coverage on GSX Techedu in a research note on Wednesday, October 9th. They issued a “buy” rating and a $22.00 target price on the stock.

GSX stock opened at $19.92 on Wednesday. GSX Techedu has a 1 year low of $8.53 and a 1 year high of $20.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50 day moving average of $16.61.

GSX Techedu (NYSE:GSX) last posted its earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.08). The company had revenue of $557.00 million during the quarter, compared to analysts’ expectations of $485.07 million. The business’s revenue for the quarter was up 461.5% on a year-over-year basis. Analysts expect that GSX Techedu will post 0.15 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Barclays PLC purchased a new position in shares of GSX Techedu during the 3rd quarter worth $73,000. Point72 Hong Kong Ltd purchased a new position in shares of GSX Techedu during the 2nd quarter worth $265,000. State of New Jersey Common Pension Fund D purchased a new position in shares of GSX Techedu during the 3rd quarter worth $1,218,000. Allianz Asset Management GmbH purchased a new position in shares of GSX Techedu during the 2nd quarter worth $1,080,000. Finally, Monashee Investment Management LLC purchased a new position in shares of GSX Techedu during the 2nd quarter worth $1,117,000. 9.94% of the stock is currently owned by institutional investors.

GSX Techedu Company Profile

GSX Techedu Inc operates as an online education company in the People's Republic of China. The company provides online K-12 large-class after-school tutoring services. It offers English courses for children in kindergarten; and courses that help children in grade one through grade seven. The company also provides foreign language courses, including English, Japanese, and Korean, as well as English test preparation courses for students taking post-graduate entrance exams in China; and professional courses primarily for working adults preparing for professional qualification exams comprising teacher's qualification, the Chartered Financial Analyst designation, fund qualification, and securities qualification exams.

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