Noah Holdings Stock Rating Upgraded by Zacks (NOAH)
Noah Holdings (NASDAQ:NOAH) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, Analyst Ratings Network reports. The firm currently has a $18.30 price target on the stock. Zacks‘ target price suggests a potential upside of 5.11% from the company’s current price.
NOAH has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Noah Holdings from an “overweight” rating to a “neutral” rating in a research note to investors on Monday, August 26th. Analysts at Oppenheimer upgraded shares of Noah Holdings from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, August 9th. They now have a $18.00 price target on the stock. They noted that the move was a valuation call.
Noah Holdings (NASDAQ:NOAH) traded down 7.29% on Tuesday, hitting $16.14. 531,056 shares of the company’s stock traded hands. Noah Holdings has a 52-week low of $4.65 and a 52-week high of $18.68. The stock’s 50-day moving average is $15.89 and its 200-day moving average is $11.87. The company has a market cap of $884.6 million and a P/E ratio of 25.64.
Noah Holdings (NASDAQ:NOAH) last announced its earnings results on Wednesday, August 21st. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.04. The company had revenue of $44.26 million for the quarter, compared to the consensus estimate of $19.07 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 132.1% on a year-over-year basis.
Noah Holdings Limited, through its subsidiaries is a service provider focusing on distributing wealth management products to the high net worth population in the People’s Republic of China (NASDAQ:NOAH).
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