CooTek (Cayman) Inc. (NYSE:CTK) has received a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation and two have issued a strong buy recommendation on the company. CooTek (Cayman)’s rating score has declined by 39.5% from 90 days ago as a result of various analysts’ ratings changes.
Brokers have set a 12-month consensus target price of $12.00 for the company and are forecasting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given CooTek (Cayman) an industry rank of 159 out of 256 based on the ratings given to related companies.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 3,175 ($41.49) price target on shares of in a research note on Tuesday, June 4th. Finally, Citigroup raised shares of Neste Oyj from a “neutral” rating to a “buy” rating in a research note on Monday, June 10th.
A number of institutional investors have recently modified their holdings of CTK. Morgan Stanley purchased a new position in CooTek (Cayman) in the 3rd quarter worth approximately $2,549,000. BlackRock Inc. purchased a new position in CooTek (Cayman) in the 4th quarter worth approximately $61,000. Finally, Bank of America Corp DE purchased a new position in CooTek (Cayman) in the 4th quarter worth approximately $179,000. 1.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CTK traded up $0.37 during midday trading on Friday, hitting $9.01. 2,652 shares of the company’s stock traded hands, compared to its average volume of 50,273. CooTek has a 1 year low of $5.40 and a 1 year high of $13.30. The company’s fifty day moving average is $9.27.
CooTek (Cayman) (NYSE:CTK) last announced its quarterly earnings results on Monday, June 3rd. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $40.04 million for the quarter, compared to analyst estimates of $40.10 million. Research analysts forecast that CooTek will post 0.26 earnings per share for the current fiscal year.
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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