GSX Techedu (NYSE:GSX) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of GSX Techedu (NYSE:GSX) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “GSX Techedu Inc. is a technology-driven education company. It offers K-12 courses covering all primary and secondary grades as well as foreign language, professional and interest courses. GSX Techedu Inc. is based in Beijing, China. “

A number of other analysts have also recently commented on GSX. Barclays boosted their target price on shares of GSX Techedu from $63.00 to $73.00 and gave the stock an equal weight rating in a research note on Monday, March 8th. UBS Group lowered GSX Techedu from a buy rating to a neutral rating and set a $47.00 price objective for the company. in a research note on Wednesday, December 16th. JPMorgan Chase & Co. reduced their target price on GSX Techedu from $63.00 to $60.00 and set an underweight rating for the company in a report on Monday, March 8th. Citigroup raised GSX Techedu from a sell rating to a buy rating and lowered their price target for the stock from $66.00 to $56.00 in a research note on Monday, March 29th. Finally, CLSA reissued a sell rating and issued a $76.00 price objective (up from $68.00) on shares of GSX Techedu in a research note on Monday, March 15th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $61.35.

NYSE GSX opened at $30.96 on Wednesday. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of -81.47 and a beta of -0.50. The stock has a 50-day moving average of $77.74 and a 200 day moving average of $76.69. GSX Techedu has a twelve month low of $27.06 and a twelve month high of $149.05.

GSX Techedu (NYSE:GSX) last posted its quarterly earnings data on Thursday, March 4th. The company reported ($2.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.57) by $0.28. GSX Techedu had a negative return on equity of 45.36% and a negative net margin of 10.56%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The business’s revenue was up 136.5% compared to the same quarter last year. As a group, equities analysts anticipate that GSX Techedu will post -0.68 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in GSX Techedu by 16.7% in the 4th quarter. Morgan Stanley now owns 14,664,826 shares of the company’s stock valued at $758,318,000 after purchasing an additional 2,102,822 shares during the last quarter. Credit Suisse AG lifted its holdings in GSX Techedu by 25.9% in the fourth quarter. Credit Suisse AG now owns 11,551,146 shares of the company’s stock valued at $597,309,000 after acquiring an additional 2,373,369 shares during the last quarter. BlackRock Inc. grew its position in GSX Techedu by 27.8% in the fourth quarter. BlackRock Inc. now owns 3,009,551 shares of the company’s stock worth $155,625,000 after acquiring an additional 655,012 shares during the period. Mizuho Markets Americas LLC purchased a new position in GSX Techedu in the fourth quarter worth approximately $130,534,000. Finally, Canada Pension Plan Investment Board increased its stake in GSX Techedu by 481.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,330,958 shares of the company’s stock worth $68,824,000 after acquiring an additional 1,101,958 shares during the last quarter. Hedge funds and other institutional investors own 34.84% 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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