Oppenheimer Increases Cheetah Mobile Inc Price Target to $30.00 (CMCM)
Equities researchers at Oppenheimer hoisted their price objective on shares of Cheetah Mobile Inc (NASDAQ:CMCM) from $23.00 to $30.00 in a research report issued on Wednesday. Oppenheimer’s price objective would suggest a potential upside of 12.53% from the stock’s previous close.
Shares of Cheetah Mobile Inc (NASDAQ:CMCM) opened at 26.66 on Wednesday. Cheetah Mobile Inc has a 52-week low of $12.50 and a 52-week high of $30.37. The stock’s 50-day moving average is $21.73 and its 200-day moving average is $19.78. The company has a market cap of $2.499 billion and a P/E ratio of 363.51.
Cheetah Mobile Inc (NASDAQ:CMCM) last released its earnings data on Tuesday, August 19th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.51. The company had revenue of $380.30 million for the quarter, compared to the consensus estimate of $158.90 million. Cheetah Mobile Inc’s revenue was up 139.3% compared to the same quarter last year. On average, analysts predict that Cheetah Mobile Inc will post $0.23 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. initiated coverage on shares of Cheetah Mobile Inc in a research note on Thursday, July 24th. They set a “buy” rating on the stock. Separately, analysts at Macquarie initiated coverage on shares of Cheetah Mobile Inc in a research note on Monday, July 14th. They set an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Cheetah Mobile Inc in a research note on Friday, June 6th. They set an “overweight” rating and a $26.00 price target on the stock.
Cheetah Mobile Inc, formerly Kingsoft Internet Software Holdings Limited, is a holding company. The Company is a wholly owned subsidiary of Kingsoft Corporation Limited.
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