Youdao (NYSE:DAO) Trading 2.9% Higher – Here’s What Happened

Shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) rose 2.9% on Friday . The company traded as high as $10.15 and last traded at $9.9950. Approximately 94,039 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 96,201 shares. The stock had previously closed at $9.71.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Youdao in a report on Monday, December 22nd. Citigroup raised Youdao from a “hold” rating to a “buy” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen cut Youdao from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Youdao Stock Performance

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 76.89 and a beta of 0.37. The company has a 50-day moving average price of $10.56 and a 200-day moving average price of $10.00.

Youdao (NYSE:DAO) last posted its earnings results on Wednesday, February 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Youdao had a negative return on equity of 6.41% and a net margin of 1.81%.The firm had revenue of $223.64 million during the quarter, compared to analysts’ expectations of $211.46 million.

Hedge Funds Weigh In On Youdao

An institutional investor recently raised its position in Youdao stock. Public Employees Retirement System of Ohio lifted its position in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,286 shares of the company’s stock after purchasing an additional 7,729 shares during the period. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 at the end of the most recent reporting period. Institutional investors own 21.91% of the company’s stock.

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.