CooTek (Cayman) (NYSE:CTK) Announces Quarterly Earnings Results

CooTek (Cayman) (NYSE:CTK) announced its quarterly earnings results on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.21), Fidelity Earnings reports. The business had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $47.70 million.

CTK traded down $0.05 on Thursday, hitting $6.44. 1,807 shares of the company were exchanged, compared to its average volume of 22,496. The business’s fifty day moving average is $8.08 and its 200 day moving average is $9.64. CooTek has a fifty-two week low of $5.40 and a fifty-two week high of $13.30.

Several brokerages have issued reports on CTK. Citigroup lowered CooTek (Cayman) from a “neutral” rating to a “sell” rating in a research note on Monday, June 10th. Zacks Investment Research upgraded CooTek (Cayman) from a “sell” rating to a “hold” rating in a research note on Monday. Credit Suisse Group downgraded CooTek (Cayman) from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 4th. Bank of America cut their price target on CooTek (Cayman) from $7.20 to $6.60 and set an “underperform” rating on the stock in a research report on Wednesday. Finally, KeyCorp cut their price target on CooTek (Cayman) from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $7.30.

CooTek (Cayman) Company Profile

CooTek (Cayman) Inc operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices that supports approximately 110 languages worldwide. The company was founded in 2008 and is based in Shanghai, the People's Republic of China.

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