Barclays Cuts GSX Techedu (NYSE:GSX) Price Target to $66.00

GSX Techedu (NYSE:GSX) had its price target dropped by Barclays from $77.00 to $66.00 in a research note issued on Monday, The Fly reports. Barclays‘s price target points to a potential downside of 2.93% from the company’s previous close.

A number of other equities research analysts have also weighed in on GSX. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $90.00 price target on shares of GSX Techedu in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their target price on GSX Techedu from $43.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, August 31st. Nomura Instinet reiterated a “reduce” rating on shares of GSX Techedu in a research note on Thursday. Nomura downgraded GSX Techedu from a “neutral” rating to a “reduce” rating and dropped their price objective for the stock from $40.00 to $38.00 in a report on Thursday. Finally, Zacks Investment Research raised GSX Techedu from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Thursday, September 3rd. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. GSX Techedu currently has a consensus rating of “Hold” and a consensus price target of $66.86.

Shares of GSX traded up $0.83 during midday trading on Monday, reaching $67.99. 83,370 shares of the company were exchanged, compared to its average volume of 4,721,218. GSX Techedu has a 1-year low of $14.21 and a 1-year high of $141.78. The stock has a 50-day moving average price of $96.64 and a 200-day moving average price of $68.61. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 338.20 and a beta of -0.44.

GSX Techedu (NYSE:GSX) last announced its earnings results on Wednesday, September 2nd. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). GSX Techedu had a net margin of 8.05% and a return on equity of 21.91%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. The business’s quarterly revenue was up 366.6% compared to the same quarter last year. Analysts anticipate that GSX Techedu will post 0.38 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN bought a new position in shares of GSX Techedu in the 1st quarter worth about $2,086,000. Two Sigma Advisers LP grew its position in shares of GSX Techedu by 76.3% during the first quarter. Two Sigma Advisers LP now owns 55,900 shares of the company’s stock worth $2,368,000 after acquiring an additional 24,200 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of GSX Techedu in the 1st quarter worth about $865,000. Royal Bank of Canada increased its holdings in shares of GSX Techedu by 310,966.7% in the 1st quarter. Royal Bank of Canada now owns 9,332 shares of the company’s stock worth $396,000 after acquiring an additional 9,329 shares during the period. Finally, State Street Corp lifted its position in GSX Techedu by 66.8% in the 1st quarter. State Street Corp now owns 51,200 shares of the company’s stock valued at $2,169,000 after purchasing an additional 20,500 shares during the last quarter. Hedge funds and other institutional investors own 29.10% of the company’s stock.

About GSX Techedu

GSX Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. Its K-12 after-school tutoring courses cover various K-12 academic subjects, including mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science.

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