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.
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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