Youdao (NYSE:DAO) Hits New 52-Week High – Time to Buy?

Youdao, Inc. Unsponsored ADR (NYSE:DAO)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $13.20 and last traded at $13.1350, with a volume of 20932 shares changing hands. The stock had previously closed at $12.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DAO shares. Weiss Ratings cut shares of Youdao from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 29th. Wall Street Zen cut shares of Youdao from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Youdao Stock Performance

The company has a market capitalization of $1.61 billion, a P/E ratio of 148.56 and a beta of 0.56. The business’s fifty day simple moving average is $11.81 and its 200-day simple moving average is $10.80.

Youdao (NYSE:DAO) last released its quarterly earnings data on Thursday, May 21st. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $195.52 million during the quarter, compared to the consensus estimate of $201.43 million. Youdao had a net margin of 1.19% and a negative return on equity of 4.51%.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its position in Youdao stock. Public Employees Retirement System of Ohio raised its position in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,286 shares of the company’s stock after buying an additional 7,729 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 as of its most recent SEC filing. 21.91% of the stock is owned by institutional investors.

About Youdao

Youdao, Inc (NYSE: DAO), established in 2006 as a subsidiary of NetEase, is headquartered in Beijing, China. The company went public on the New York Stock Exchange in October 2019, marking a significant milestone in its development as an intelligent learning and knowledge service provider. Since its inception, Youdao has combined cloud computing, artificial intelligence and big data analytics to create an adaptive learning ecosystem designed to meet the needs of individual learners and organizations.

At the core of Youdao’s offerings is its suite of digital dictionaries and translation tools, including the flagship Youdao Dictionary app and translation engine.