Youdao (NYSE:DAO) Stock Price Down 6%

Youdao, Inc. (NYSE:DAO) fell 6% during mid-day trading on Thursday . The company traded as low as $12.60 and last traded at $12.60. 644 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 357,866 shares. The stock had previously closed at $13.40.

DAO has been the subject of a number of research analyst reports. Jefferies Financial Group cut shares of Youdao from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $45.70 to $13.00 in a research report on Monday, July 26th. HSBC lowered shares of Youdao from a “buy” rating to a “hold” rating and cut their target price for the stock from $35.00 to $25.00 in a research report on Tuesday, June 29th. Daiwa Capital Markets raised shares of Youdao from an “underperform” rating to a “neutral” rating and set a $13.50 target price on the stock in a research note on Friday, September 3rd. Zacks Investment Research upgraded shares of Youdao from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, October 6th. Finally, Morgan Stanley lowered shares of Youdao from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $29.00 to $11.40 in a research report on Monday, August 30th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.72.

The stock has a 50-day moving average price of $11.83 and a 200 day moving average price of $18.64. The firm has a market capitalization of $1.53 billion, a PE ratio of -4.47 and a beta of -0.52.

Youdao (NYSE:DAO) last released its quarterly earnings data on Monday, August 30th. The company reported ($4.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($4.22) by ($0.07). Analysts anticipate that Youdao, Inc. will post -1.65 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Coronation Fund Managers Ltd. raised its stake in shares of Youdao by 9.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 2,720,359 shares of the company’s stock worth $62,813,000 after buying an additional 230,803 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in Youdao in the first quarter valued at $37,160,000. Sylebra Capital Ltd boosted its holdings in Youdao by 12.1% in the first quarter. Sylebra Capital Ltd now owns 1,312,403 shares of the company’s stock valued at $31,261,000 after acquiring an additional 141,199 shares during the last quarter. Invesco Ltd. boosted its holdings in Youdao by 39.1% in the second quarter. Invesco Ltd. now owns 1,249,798 shares of the company’s stock valued at $28,857,000 after acquiring an additional 351,305 shares during the last quarter. Finally, Credit Suisse AG raised its position in Youdao by 8.5% in the first quarter. Credit Suisse AG now owns 1,201,880 shares of the company’s stock valued at $28,628,000 after purchasing an additional 94,664 shares during the period. 19.56% of the stock is owned by hedge funds and other institutional investors.

About Youdao (NYSE:DAO)

Youdao, Inc, an internet technology company, provides online services in content, community, communication, and commerce in China. The company provides various learning content, applications, and solutions, which covers topics and targets people from various age groups for their learning needs through its websites and mobile applications; Youdao Dictionary with range of products and services addressing lifelong learning needs of pre-school, K-12 and college students as well as adult learners; and other online dictionary and translation tools comprising Youdao Translation, U-Dictionary, and Youdao Kids' Dictionary.

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