Investing

CLSA Downgrades Gaotu Techedu

George Maybach

Published: September 1, 2023 6:55 am

Last Updated: September 1, 2023 10:49 am

Fintel reports that on August 31, 2023, CLSA downgraded their outlook for Gaotu Techedu Inc – ADR (NYSE:GOTU) from Outperform to Underperform.

Analyst Price Forecast Suggests 23.72% Upside

As of August 31, 2023, the average one-year price target for Gaotu Techedu Inc – ADR is 4.01. The forecasts range from a low of 1.31 to a high of $6.40. The average price target represents an increase of 23.72% from its latest reported closing price of 3.24.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Gaotu Techedu Inc – ADR is 2,485MM, a decrease of 6.09%. The projected annual non-GAAP EPS is 0.67.

What is the Fund Sentiment?

There are 84 funds or institutions reporting positions in Gaotu Techedu Inc – ADR. This is an increase of 6 owner(s) or 7.69% in the last quarter. Average portfolio weight of all funds dedicated to GOTU is 0.18%, a decrease of 14.50%. Total shares owned by institutions decreased in the last three months by 12.81% to 40,994K shares. The put/call ratio of GOTU is 0.30, indicating a bullish outlook.

What are Other Shareholders Doing?

Strategic Vision Investment holds 4,226K shares representing 1.63% ownership of the company. In it’s prior filing, the firm reported owning 5,301K shares, representing a decrease of 25.42%. The firm decreased its portfolio allocation in GOTU by 5.69% over the last quarter.

D. E. Shaw holds 3,827K shares representing 1.47% ownership of the company. In it’s prior filing, the firm reported owning 3,557K shares, representing an increase of 7.05%. The firm decreased its portfolio allocation in GOTU by 10.72% over the last quarter.

Acadian Asset Management holds 3,819K shares representing 1.47% ownership of the company. In it’s prior filing, the firm reported owning 3,309K shares, representing an increase of 13.37%. The firm decreased its portfolio allocation in GOTU by 25.92% over the last quarter.

Renaissance Technologies holds 3,371K shares representing 1.30% ownership of the company. In it’s prior filing, the firm reported owning 3,856K shares, representing a decrease of 14.39%. The firm decreased its portfolio allocation in GOTU by 34.99% over the last quarter.

Point72 Hong Kong holds 2,673K shares representing 1.03% ownership of the company. In it’s prior filing, the firm reported owning 2,581K shares, representing an increase of 3.41%. The firm decreased its portfolio allocation in GOTU by 27.22% over the last quarter.

Gaotu Techedu Background Information
(This description is provided by the company.)

Gaotu Techedu Inc. is a technology-driven education company and leading online K-12 large-class after-school tutoring service provider in China. The Company offers K-12 courses covering all primary and secondary grades through the brand Gaotu K12 as well as foreign language, professional, admission and other courses through the brand Gaotu Professional. The Company adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates each aspect of the Company’s business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.

This article originally appeared on Fintel